Microsoft and General Electric are planning to enter one of the so-called ambitious joint ventures, following which the powers of both the software giant's will become one and will primarily serve and aim to develop large-scale data platforms with GE Healthcare's expertise in building health care applications.

Both the corporate giants have announced about their new plans on Wednesday. In their speech, both the companies clearly highlighted about the formation of the newest company that will have its base near Microsoft's Redmond campus.

This joint venture basically aims to create systems with the help of which, it could become easy for health care organizations to efficiently keep a thorough track on every individual patient and his health. Moreover, the effort will also make it easy for the health care organizations to manage large amounts of data easily. Hopes are higher that the new system will deliver better care at lower costs to all.

The new company has yet not been given any name but according to the information received from both the companies, Microsoft and General Electric, the new venture will employ approximately 750 workers and it is still awaiting approval from antitrust regulators in several countries.

Microsoft officials have further cleared that they are expecting the above approval in early 2012 and hopefully, they will launch the new joint venture in early spring 2012. The chosen Head of the new venture will be Mr. Michael Simpson, who is currently serving as the Vice-president and General Manager at GE Healthcare IT.

Moreover, the joint venture has been especially designed to gather and save all the data in one location and just as importantly, “painting the picture of what the data represents”, said Dr. Brandon Savage, Chief Medical Officer of GE Healthcare IT.