LG Electronics, Microsoft, GE Healthcare Sign MOU for Smart Hospital Solutions

LG Electronics Inc. inked a memorandum of understanding (MOU) with Microsoft Korea and GE Healthcare to develop smart solutions for healthcare in hospitals. The companies agreed to develop and build smart hospitals to provide patients with advanced medical services.

On Thursday, LG Electronics announced its latest partnership with Microsoft Korea and GE Healthcare. Their collaboration will focus on devising advanced medical devices, cloud-based services, and digital solutions.

Setting Up Smart Hospitals

According to The Korea Economic Daily, smart hospitals operate with various technologies such as machine learning models and AI-powered medical devices. Overall, running this kind of health facility mostly depends on data-driven insights to speed up work and decision-making. A local consulting company called CMI said the global smart hospital market is predicted to climb from $41 billion (in 2022) to $153.3 billion by 2030; thus, this collaborative project is important.

In any case, LG Electronics, Microsoft Korea, and GE will cooperate to accelerate their market growth in digital healthcare. Under the MOU, they will improve digital medical devices and services, deliver reliable IT medical services via cloud systems, and incorporate technologies into the facility’s systems for better operational efficiency.

How Each Company Will Contribute to the Project

Korea Joongang Daily reported that in the partnership, LG Electronics will provide innovative medical products to hospitals, such as medical monitors for surgical, diagnostic, and clinical applications, digital signage solutions, X-ray detectors, EV chargers, and CLOi robots. To build a smart hospital, GE Healthcare will contribute by supplying advanced medical equipment and digital solutions for assessing patients' medical data to boost procedural accuracy.

As for Microsoft Korea, it is expected to apply its expertise in hybrid cloud systems and AI to create smart solutions for medical facilities. Its Microsoft Teams will also be crucial in facilitating digital transformation.

“Through the partnership forged between LG Electronics, GE HealthCare and Microsoft Korea, we aim to contribute to the advancement of the domestic medical environment and provide patients with a better healthcare experience,” Jang Ik Hwan, LG Electronics’s vice president and president of business solutions, said in a statement.

Photo by: LG Media Center