GE HealthCare completes spin-off, begins trading on Nasdaq

Bangalore: GE HealthCare has completed its previously announced spin-off from GE and the company has begun trading as an independent company on the Nasdaq exchange under the ticker symbol “GEHC” effective at the market opening on January 05, 2023.

GE HealthCare is the first company in the state of Wisconsin to remotely ring Nasdaq’s opening bell. Its leadership team will be joined by employees in person and virtually from around the world at the Company’s manufacturing facility in Waukesha, Wis.

“Today is an incredibly exciting day for GE HealthCare as we become an independent company and start a new chapter advancing our position as a global leader in precision care,” said Peter Arduini, President and CEO of GE HealthCare. “We are on the verge of true industry transformation as digital innovation reshapes the experience of patients and providers with an increased need for more precise, connected, and efficient care. GE HealthCare colleagues worldwide are united in our purpose to create a world where healthcare has no limits, and we look forward to delivering for providers, patients, and shareholders in the years ahead.”

GE HealthCare launches with a presence in more than 160 countries and approximately 51,000 employees worldwide serving more than one billion patients a year. The company invests more than $1 billion in R&D annually and generates approximately $18 billion in revenue, with an installed base including more than 4 million pieces of equipment across its four business segments – Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.

The Company expects its addressable markets will expand from $84 billion in 2021 to $102 billion by 2025. That expansion provides significant opportunities for growth and execution of the Company’s precision care strategy to safely and securely integrate patient data from imaging, lab, pathology, genomics, and other sources. Precision care then layers those data with artificial intelligence, using the Company’s Edison platform and digital apps. This precision care strategy enables insights that help clinicians diagnose diseases and determine the most appropriate treatment – delivering the best possible outcome for the patient.

The spinoff of GE HealthCare was achieved by GE’s pro rata distribution of approximately 80.1% of the outstanding shares of GE HealthCare to GE shareholders. GE retained approximately 19.9% of the outstanding shares of GE HealthCare common stock.