Brazil is often forgotten in the emerging markets race behind more glamorous developing economies like India and China. Make no mistake -- this South American market is becoming one of the world's fastest-growing hotbeds for companies across every market. For health care investors, few emerging markets offer the kind of potential that Brazil does.

GE's (NYSE:GE) certainly thinking that way. The industrial giant boasts a robust and growing health care business, and GE this week made a big splash in the country by purchasing Brazilian device firm Omnimed. Is this the start of a South American push by medical device firms desperate to boost sales by diversifying geographically? Fool contributor Dan Carroll below tells you what this deal means for GE and for the medical device industry's future.