Multinational conglomerate General Electric (GE) recently announced that it has completed the separation of its healthcare business, launching GE HealthCare Technologies Inc. (“GE HealthCare”), a global leader in Precision Care.
“The successful spin-off of GE HealthCare marks a pivotal moment in our transformation into three independent companies focused on critical, growing sectors. We are tremendously proud of the GE and GE HealthCare teams for their work to prepare this great business to stand on its own as an industry-leading, investment grade company focused on Precision Care,” a GE spokesperson said.
Holders of GE common stock in the United States received one share of GE HealthCare common stock for every three shares of GE common stock held. The distribution was part of a tax-free spin-off, resulting in tax efficiency for GE shareholders in the US.
GE is retaining approximately 19.9% of the shares of GE HealthCare common stock.