Reports: GE files for IPO of healthcare unit

Michael Walter | | Cardiovascular Business | Economics

General Electric (GE) has filed the paperwork for an initial public offering (IPO) for its healthcare unit, GE Healthcare, according to numerous sources familiar with the ongoing situation. The offering is expected to take place by the middle of 2019.

Goldman Sachs, Bank of America, Citigroup, JPMorgan Chase and Morgan Stanley are all said to be working on the listing, according to a report from Bloomberg. Sources close to CNBC have also confirmed the news. GE’s stock, which has been famously performing poorly in recent months, has jumped more than 8 percent based on the news.

GE announced its plans to spin off its healthcare unit as a separate company back in June.

“As we announced in June, as an independent global health care business, we will have greater flexibility to pursue future growth opportunities, react quickly to changes in the industry and invest in innovation,” GE said in an emailed statement, according to Bloomberg’s report.

Siemens made a similar move in March 2018 with its own healthcare division, Siemens Healthineers, and raised $5.2 billion.

Michael Walter
Michael Walter, Managing Editor

Michael has more than 18 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.

Related Content

Q&A: MedAxiom CEO explores key trends in cardiologist, cardiovascular surgeon compensation
Positron partners with Upbeat Cardiology Solutions to improve cardiac PET/CT access
Abbott opens CGM sensor manufacturing facility in Ireland as part of $465M investment
Eko Health’s AI platform for digital stethoscopes granted new CPT code
Cardiologist demand is on the rise—can hospitals keep up?
Cardiologist receives 35 months in prison for health insurance fraud

Around the web

Health Imaging
Use of AI opportunistic screening in CT for cardiovascular disease

Ron Blankstein, MD, professor of radiology, Harvard Medical School, explains the use of artificial intelligence to detect heart disease in non-cardiac CT exams.

Health Imaging
New imaging protocols proposed to curb rise of cardiovascular infections

Eleven medical societies have signed on to a consensus statement aimed at standardizing imaging for suspected cardiovascular infections.

Radiology Business
What does radiology have to do with climate change?

Kate Hanneman, MD, explains why many vendors and hospitals want to lower radiology's impact on the environment. "Taking steps to reduce the carbon footprint in healthcare isn’t just an opportunity," she said. "It’s also a responsibility."