The timing and focus of the initiative make plenty of sense. The products the companies will pursue align nicely with President Obama's goal of digitizing healthcare as part of broader reforms. And General Electric has been investing in its healthcare business for years, including through acquisitions. GE healthcare bought at least five companies in 2008, including the medical products maker Vital Signs in October.   

Intel's involvement is a bit more surprising. The technology giant is best known for semiconductor chips that power everything from computers to wireless devices to electronics -- and as we learned after a quick perusal of its Web site, medical technologies as well. One of those products is the Intel Health Guide, which allows patients with chronic conditions to send data through an online interface directly to their physicians.

Under terms of the alliance, GE Healthcare will sell and market Health Guide in the U.S. The companies researchers will also collaborate to develop next-generation home-based medical technologies. - Suzanne Stevens