GE Files Registration Statement for Planned Spin-Off of GE HealthCare
Posted on 13 Oct 2022
GE (Boston, MA, USA) has announced the filing of the Form 10 registration statement with the U.S. Securities and Exchange Commission (SEC) for the planned spin-off of its Healthcare division, to be called GE HealthCare. As previously announced, GE plans to form three independent, investment grade, industry-leading companies focused on the critical growth sectors of aviation, healthcare, and energy. GE HealthCare will become a pure-play global healthcare leader following its planned spin-off, which GE continues to expect to complete in the first week of 2023 subject to final approval from the GE Board of Directors and other customary conditions.
GE HealthCare will be organized into four business segments aligned with the industries it serves:
Imaging: solutions including CT, MR, molecular imaging, X-ray, women’s health, image-guided therapies, enterprise imaging software, service capabilities, and digital solutions;
Ultrasound: consoles and probes, handheld devices, intraoperative imaging systems, visualization software, service capabilities, and digital solutions;
Patient Care Solutions: monitoring, anesthesia and respiratory care, maternal infant care, and diagnostic cardiology, as well as consumables, service capabilities, and digital solutions; and
Pharmaceutical Diagnostics: imaging agents that include contrast media and radiopharmaceuticals that enhance diagnostic images.
The Form 10 includes detailed information about GE HealthCare, including an overview of its business and strategy, historical financial information, and competitive advantages, among other details. Key information detailed in the Form 10 demonstrates how GE HealthCare expects to:
Drive industry-leading precision innovation to deliver better outcomes for patients and customers, with significant opportunities driven by digitizing healthcare; connecting care across diagnostics, therapy, and monitoring; and serving across care pathways and sites of care.
Accelerate growth through product leadership and commercial execution. Amid strong global and end-market dynamics, GE HealthCare intends to invest in innovation, pursue a disciplined capital allocation strategy, and enhance its commercial execution to drive sustainable growth.
Optimize its operating model through a simplified, more decentralized structure - including tailoring its business model as a standalone leader in healthcare, leveraging lean principles, and continuing to foster its purpose-driven, action-oriented culture.
“GE HealthCare is an established leader in large, growing markets with a global franchise that is positioned to deliver patient, customer, and shareholder value,” said GE Chairman and CEO and GE Aerospace CEO H. Lawrence Culp, Jr. “As a result of its planned spin-off, GE HealthCare will have greater focus and flexibility to serve its customers and invest in growth, and this filing is an important step on that journey.”
“This is a milestone day for the GE HealthCare team, who is dedicated to our mission to create a world where healthcare has no limits,” added GE HealthCare CEO Peter Arduini. “We believe we have a clear path to deliver precision innovation for our customers and their patients while accelerating growth and optimizing our business as a standalone company.”
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