Forbes India 15th Anniversary Special

Our Indian tech capabilities will support us around the globe: Peter J Arduini

The CEO of GE HealthCare talks about his plan for how GE HealthCare's teams and partnerships in India can play a central role in its global operations

Harichandan Arakali
Published: May 14, 2024 02:55:44 PM IST
Updated: May 22, 2024 11:55:44 AM IST

Our Indian tech capabilities will support us around the globe: Peter J ArduiniPeter J Arduini, CEO, GE Healthcare.

‘Our Indian tech capabilities will support us around the globe’ Peter J Arduini (59), the first president and CEO of an independent GE HealthCare (GEHC, Nasdaq), started his career as a manager at Procter & Gamble in 1986. A chance phone call about a company called GE and medical equipment set him on his current path, and the fascination with the combination of great med-tech and business value has sustained his purpose, he says.

After his first 15 years at GE, Arduini left for the next 17. Before returning in 2022, he was president and CEO of Integra LifeSciences, a smaller med-tech company focussed on reconstructive and general surgery.

During his recent visit, Arduini spoke to Forbes India about his plan for how GE HealthCare’s teams and partnerships in India can play a central role in its global operations. Edited excerpts.

Also read: How GE HealthCare wants to tap India for the next 10 years

Q. How do you see GEHC’s role in the med-tech ecosystem in India?
For us, it’s about shifting from importing components to working with local suppliers to deepen our manufacturing capabilities. This is a strategy many med-tech companies, part of a global ecosystem, are also pursuing, aiming for an integrated supply chain that’s not reliant on just one country. India stands out, offering a favourable business environment with supportive government technology policies.

Q. What do you think is missing or needs more work?
I think when it comes to encouraging med-tech manufacturing and R&D, it’s really about stepping up the pace of some of the good changes that have taken place. On infrastructure, if you make something in Hyderabad or Mumbai and you want to make another component in Bengaluru, how easy is it to integrate your supply chains? All the things that have already started to get focussed attention, if they can be advanced at a faster pace, I think it’s going to play to significant advantage.
 
Q. Any interesting M&A possibilities in India?
We’re now evaluating global players, especially in software and focusing on partnerships. We’ve also established an investment fund to support promising startups. By securing a board seat, we offer guidance and may consider further partnership or acquisition. This is a key strategy. We’re expanding our digital capabilities to help startups qualify their applications and introducing SaaS models. Our aim is to integrate these into an ‘application store,’ allowing startups to reach our extensive network of equipment and patients. While we’d earn a percentage, our broader vision is to foster an ecosystem of partnerships for greater collective value.

Also read: Wipro GE HealthCare to invest $1 bln to boost manufacturing in India
 
Q. Would it make sense to list Wipro GEHC locally?
The question is, if you monetise it, then for what? We’ve now got our own balance sheet, and a significant amount of value. The flip side is, you do more in India for the world. Having GEHC India to be an organisation that feeds our whole global operations for tech capabilities is more where we’re leaning. There are scenarios where monetisation could make sense, but we’re looking at this from potential for India to support us all over the planet.

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