GE has launched its “Healthymagination” initiative Thursday. It hopes to build a thematic presence in health care similar to its “Ecomagination” campaign which was around environmental concerns.

“Health care needs new solutions,” said Jeff Immelt, GE’s chairman and chief executive. “We must innovate with smarter processes and technologies that help doctors and hospitals deliver better health care to more people at a lower cost.”

GE said it will allocate $6 billion over the next six years for the effort, including $3 billion toward developing products which would will lower costs, increase access and improve health-care quality.