GE Healthcare is preparing for its spinoff from GE, which is planned for the first week of January, MedCity News reports. The company’s split will allow it to operate under a new board, as well as manage its own capital. That capital will be primarily invested in acquisitions and research and development efforts, according to GE Healthcare’s CEO for the U.S. and Canada.
Heading into the spin, GE Healthcare reported steady finances in Q3. Its revenue during the quarter was $4.61 billion, which marks a 6% increase from last year, and profit was $712 million, up 1% from last year. Orders for imaging and ultrasound equipment are the primary drivers of GE Healthcare’s recent revenue growth, GE said in its earnings report. Read more.
