Sam Brusco, Associate Editor01.04.23
GE has completed the separation of its healthcare business, GE HealthCare Technologies Inc. (GE HealthCare). The company began trading today on Nasdaq under the ticker symbol “GEHC.”
H. Lawrence Culp Jr., chairman and CEO, GE and CEO, GE Aerospace, told the press, “The successful spin-off of GE HealthCare marks a pivotal moment in our transformation into three independent companies focused on critical, growing sectors. I am tremendously proud of the GE and GE HealthCare teams for their work to prepare this great business to stand on its own as an industry-leading, investment grade company focused on Precision Care.”
Culp continued, “We’re on track and confident in our plans to unleash the potential of GE Aerospace and GE Vernova as separate companies in early 2024. These two global leaders are creating a smarter, more efficient future of flight and driving decarbonization to address the energy transition. With lean and innovation at our core, we could not be more excited about the future.”
GE common stock holders received one share of GE HealthCare common stock for every three shares of GE common stock held. The distribution was part of a tax-free spinoff.
GE is keeping about 19.9% of the shares of GE HealthCare common stock, and Culp will serve as non-executive chairman of the new company.
H. Lawrence Culp Jr., chairman and CEO, GE and CEO, GE Aerospace, told the press, “The successful spin-off of GE HealthCare marks a pivotal moment in our transformation into three independent companies focused on critical, growing sectors. I am tremendously proud of the GE and GE HealthCare teams for their work to prepare this great business to stand on its own as an industry-leading, investment grade company focused on Precision Care.”
Culp continued, “We’re on track and confident in our plans to unleash the potential of GE Aerospace and GE Vernova as separate companies in early 2024. These two global leaders are creating a smarter, more efficient future of flight and driving decarbonization to address the energy transition. With lean and innovation at our core, we could not be more excited about the future.”
GE common stock holders received one share of GE HealthCare common stock for every three shares of GE common stock held. The distribution was part of a tax-free spinoff.
GE is keeping about 19.9% of the shares of GE HealthCare common stock, and Culp will serve as non-executive chairman of the new company.