Why would this automotive company venture into healthcare?

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Why would this automotive company venture into healthcare?

If you are wondering about which company are we referring to; it is Toyota.

Yes, Toyota has recently partnered with Dean Kamen, the inventor of Segway, human transporter, to develop intelligent wheelchairs for disabled and aged people.

As a part of the partnership, Toyota gets to use Dean Kamen license on balancing technology, that he used in IBOT wheelchair earlier.

Now question that arises is why automotive pioneer wants a bite of healthcare?

We all know technology companies regard healthcare as most lucrative market, and are paving their way into futuristic devices via alliances and partnerships.However no healthcare focussed activity had been viewed from Auto motive players ( Except for this one off course).

Now let us come to the answer on what drove Toyota down this healthcare lane –

Its not a random turn of events but a well thought out initiative of Toyota, where the company had allotted USD 1 billion dollar for developments around artificial intelligence and robotics.

This partnership with Dean Kamen aligns to its robotics vision, and happens to be nothing but a small picture in overall frame of ROBOTICS.

Its good to see that companies like Toyota are putting the core technical know how to better healthcare solutions.Further it would be awesome if more non-core companies came together  to carve out novel healthcare solutions.

Catch here is, Toyota is contributing to medtech by materializing its core industry strengths, now that is a learning which other non-medtech peers can take from this partnership.

Story taken from Bloomberg.

For more trends follow Medical Device Trends: Your On-line Trend Tracker

 

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