GE Healthcare, Listed After Spinoff... "Opening a New Era in Healthcare"

GE Healthcare logo (Photo by GE Healthcare)

[Asia Economy Reporter Chunhee Lee] GE Healthcare announced on the 5th that it completed its spin-off from GE and began trading as an independent company on the Nasdaq under the ticker 'GEHC' on the 4th (local time).

Peter Arduini, CEO of GE Healthcare, said, "This is a very meaningful day for GE Healthcare," and added, "We are very pleased to start a new chapter as an independent company and a global leader in precision medicine." He continued, "Digital innovation is driving greater demands for accuracy, connectivity, and efficiency, providing new experiences for patients and healthcare professionals, and significant changes are occurring in the healthcare industry. GE Healthcare is committed to opening a new era in healthcare."

GE Healthcare is a global company with over 50,000 employees in more than 160 countries. It supports the care of one billion patients annually and recorded sales of $18 billion (approximately 23 trillion KRW) in 2021. It invests about $1 billion (approximately 1.27 trillion KRW) annually in research and development (R&D). The company operates four major business segments: imaging diagnostics, ultrasound, patient care solutions, and contrast agents, supplying over 4 million medical devices worldwide.

With the spin-off of GE Healthcare, existing GE shareholders received a proportional distribution of 80.1% of the total issued shares of GE Healthcare. GE retains 19.9% of the total issued common shares of GE Healthcare.

Peter Arduini, CEO of GE Healthcare, and Helmut Jodl, CFO, are scheduled to present at the 41st 'JP Morgan Healthcare Conference' on the 10th. It is expected that new management strategies following the spin-off will be disclosed.

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