GE Healthcare and the 12-hospital University of Pittsburgh Medical Center system partnered to form a new company that aims to develop and commercialize a virtual microscope that would digitize the management and interpretative work of pathology laboratories. Each partner is investing $20 million into the company, called Omnyx, a spokeswoman said.
U.K.-based GE Healthcare said Omnyx is the first stand-alone company that GE has formed with an academic medical center and is part of a broader GE initiative to foster innovation and accelerate ideas to market. The digital pathology solution has the potential to reduce medical errors, improve turnaround times for laboratory results and include a patients pathology information as part of the electronic medical record, officials said in a news release.
Gene Cartwright, former president of GE Healthcares molecular diagnostics unit, was named chief executive officer of the new company. The state of Pennsylvania is funding Omnyx with $180,000 to support the creation of at least 40 high-tech jobs within the company over the next three years. Omnyx will be headquartered in Pittsburgh with additional offices in Piscataway, N.J., and other GE Healthcare facilities.