LG Elec, Microsoft, GE to collaborate for smart hospital

LG Electronics Inc. announced on Thursday that it signed a memorandum of understanding (MOU) with GE Healthcare Korea and Microsoft (MS) Korea to collaborate on developing and building smart hospitals. 

Smart hospital relies on data-driven insights, including machine learning models and artificial intelligence AI-powered medical devices, to facilitate decision-making.

According to consulting firm CMI, the global smart hospital market is estimated to rise from $41 billion in 2022 to $153.3 billion by 2030, reflecting an average annual growth rate exceeding 20%.

Under the MOU, the three companies will work together to deliver advanced digital medical devices, digital solutions improving hospital operational efficiency, and robust IT medical services through cloud systems.

LG Electronics, a player in the medical monitor market since 2016, brings a diverse product portfolio to the table, encompassing 13 types of medical monitors for various applications (diagnostic, surgical, clinical), digital X-ray detectors, digital signage solutions, electric vehicle chargers, and CLOi robots.

GE Healthcare Korea contributes advanced digital medical equipment and digital solutions capable of integrating and analyzing patient medical data to bolster procedural accuracy and streamline hospital operations.

MS Korea rounds out the partnership with its expertise in solutions like hybrid cloud systems, artificial intelligence (AI) algorithm models, and Microsoft Teams, which will facilitate digital transformation.

Write to Jeong-Soo Hwang at hjs@hankyung.com