GE to spin off Healthcare unit after Siemens

GE announced today that it is willing to spin off its Healthcare unit, which makes up 16% of the US company’s total revenue. Said unit produces diagnostic imaging equipment, e.g. MRI machines and other tools for hospitals and diagnostic labs. Last year, GE Healthcare’s total revenue stood at $19bn. The company expects to sell 20% of its unit on the market and distribute the remaining 80% among the existing shareholders. A few months ago, competitor Siemens completed its healthcare unit spinoff too, quoting 13% of Healthineers – this is its name – on the stock exchange. GE shares rose over 8% today (Wall Street).

 

(Source: GE)