GE Healthcare Technologies (GEHC) said Tuesday it has entered into a joint development initiative with Raydiant Oximetry to progress fetal oxygen saturation monitoring technology.

The collaboration aims to integrate Raydiant Oximetry's fetal pulse oximetry technology into GE HealthCare's fetal monitoring and digital perinatal surveillance platforms, with the goal of enhancing the detection of fetal distress during childbirth, GE Healthcare said.

Terms of the agreement were not disclosed.

GE Healthcare shares were 1.1% higher in recent premarket activity.