The IPOX® Watch: GE HealthCare Technologies
COMPANY DESCRIPTION
Founded as a subsidiary in 1896, GE HealthCare Technologies Inc is the healthcare business spin-off of General Electric, headquartered in Chicago, IL. GE HealthCare develops, manufactures, and markets a broad portfolio of products including medical imaging equipment and systems, ultrasound medical devices and solutions, patient care solutions (PCS) and pharmaceutical diagnostic agents.
BUSINESS MODEL
GE HealthCare generates revenue from the sale of medical devices, single-use and consumable products, digital solutions, and value-added offering, such as training and consulting.
SPIN-OFF HISTORY
On 01/04/2023, GE HealthCare Technologies completed the spin-off from GE and began trading independently on Nasdaq. GE shareholders received one share of GE HealthCare common stock for every three shares of GE common stock held as of 12/16/2022 (the "record date"). GE HealthCare Technologies was valued at ca. $27 billion. GE HealthCare rose on the first day to $60.49 (+8.02%). GE retains approximately 19.9% stake in GE HealthCare following the spin-off.
GE HealthCare Technologies, Inc was included in the IPOX® 100 U.S. Index (ETF: FPX US, FPX LN) on 01/09/2023 and currently weighs ca. 2.82% of the portfolio.
