Continuing on its march to spin off GE Healthcare into a separate business, industrial conglomerate GE today filed paperwork with the U.S. Securities and Exchange Commission (SEC) to move the deal ahead.
The Form 10 registration statement that GE filed with the SEC provides additional details about the spinoff and the structure of the newly independent company, to be called GE HealthCare. GE in September announced that the spinoff was expected to be completed in January 2023, with Peter Arduini leading the company as president and CEO.
The new GE HealthCare will be organized into four business segments, according to the Form 10:
- Imaging, which includes CT, MRI, molecular imaging, x-ray, women's health, image-guided therapies, enterprise imaging software, service capabilities, and digital solutions
- Ultrasound, including consoles and probes, handheld scanners, intraoperative imaging devices, and visualization software
- Patient care solutions, including patient monitoring, anesthesia and respiratory care, diagnostic cardiology, and maternal and infant care
- Pharmaceutical diagnostics, including contrast agents and radiopharmaceuticals
The new company will be a pure-play healthcare company, trading on the Nasdaq Global Select Market under the ticker symbol GEHC. GE plans to distribute at least 80.1% of GE HealthCare stock to GE shareholders and will retain a 19.9% stake in the new company.
GE is also spinning off its aviation and energy business into separate companies.
