GE Healthcare: Spin-off into stand-alone unit

Kieran Murphy, president and CEO of GE Healthcare, will continue to lead GE Healthcare as a standalone company: “GE Healthcare’s vision is to drive more individualized, precise and effective patient outcomes. As an independent global healthcare business, we will have greater flexibility to pursue future growth opportunities, react quickly to changes in the industry and invest in innovation. We will build on strong customer demand for integrated precision health solutions and great technology with digital and analytics capabilities as we enter our next chapter." GE Healthcare recorded over USD 19 billion in revenues in 2017 and posted five percent revenue growth and nine percent segment profit growth in the same year. The business provides medical imaging (including contrast agents), monitoring, biomanufacturing and cell therapy technology, leveraging deep digital, artificial intelligence and data analytics capabilities. GE expects to generate cash from the disposition of approximately 20 percent of its interest in the Healthcare business and to distribute the remaining 80 percent to GE shareholders through a tax-free distribution. The structure, sequence and timing of these transactions are yet to be determined, but are expected to be completed over the next 12 to 18 months. GE plans to fully separate its 62.5 percent interest in BHGE over the next two to three years.