GE Healthcare, an operating unit of
General Electric Company
), recently extended its partnership with recurring revenue
ServiceSource International, Inc.
) to expand its services in Japan. The strategic move marks the
expansion of the partnership in 11 countries in the Asia Pacific
region to optimize GE Healthcare business through renewals with
existing customers and thereby increase recurring revenues.
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The healthcare industry has experienced a healthy growth in Asia
over the past couple of years and is poised for further growth in
the coming quarters as well. To capitalize on this huge revenue
generating potential, GE Healthcare formed a partnership with
ServiceSource in early 2011. ServiceSource developed a
specialized sales team to complement the professional sales force
of GE to augment its revenue in a broad range of medical
technologies, including monitoring devices, life support systems,
ultrasound, X-ray and sophisticated CT equipment.
GE Healthcare tasted reasonable success in its endeavor to
permeate the healthcare industry across several Asian countries
through its tie-up with ServiceSource. The company presently
intends to replicate this success story in the competitive market
of Japan. Going forward, ServiceSource plans to form a
specialized sales team of its own to achieve incremental renewals
and warranties for the ultrasound equipment installations of GE
Healthcare across Japan.
General Electric is one of the largest and the most diversified
technology and financial services corporations in the world. With
products and services ranging from aircraft engines, power
generation, water processing, and security technology to medical
imaging, business and consumer financing, media content and
industrial products, the company serves over 100 million
Its segments include Energy Infrastructure, Aviation, Healthcare,
Transportation, Home & Business Solutions and GE Capital,
Healthcare Financial Services. GE Healthcare offers
state-of-the-art medical technologies and services for patient
care. Its expertise includes medical imaging and information
technologies, medical diagnostics, patient monitoring systems,
drug discovery, and biopharmaceutical manufacturing technologies.
General Electric currently has a Zacks Rank #4 (Sell). Other
companies in the industry worth mentioning are
Jardine Strategic Holdings Ltd.
China Merchants Holdings (International) Company
), each carrying a Zacks Rank #1 (Strong Buy).