Larry Culp, General Electric’s new CEO, said GE Healthcare could preserve its “tax-free spin status while selling up to to 49.9%”. GE Healthcare made $21 in 2017, accounting for 15.8% of GE’s sales and 43.2% of its operating profit. Under Culp’s leadership, GE plans to make GE Healthcare a “separate independent entity”, so GE can focus on industrial and energy operations. One business figure suggested Fortune 500 company Danaher as a potential buyer of GE Healthcare’s life sciences arm. Shares in GE remain down, with 2018 expected to be its worst year since 2008.
Larry Culp, General Electric’s new CEO, said GE Healthcare could preserve its “tax-free spin status while selling up to to 49.9%”. GE Healthcare made $3.4bn in 2017, accounting for 15.8% of GE’s sales and 43.2% of its operating profit. Under Culp’s leadership, GE plans to make GE Healthcare a “separate independent entity”, so GE can focus on industrial and energy operations. One business figure suggested Fortune 500 company Danaher as a potential buyer of GE Healthcare’s life sciences arm. Shares in GE remain down, with 2018 expected to be its worst year since 2008.