4. GE Healthcare (General Electric)
$19,942,000,000*
Chicago
2019 rank: 4
R&D spend: $1,000,000,000
Employees: 50,000
*Fiscal year ended 12/31/2019
General Electric in April completed the sale of its Biopharma business to Danaher for roughly $20 billion. “As we go forward, GE retains one of the world’s leading healthcare companies, using our global scale and technical leadership to deliver better outcomes and more capacity to a world striving for precision health,” CEO Larry Culp said at the time. The company recently noted that GE Healthcare profits during Q3 2020 were up 30% from a year earlier on a like-for-like basis (excluding the effect of the Biopharma sale). The increase was primarily due to cost reductions, productivity and increases in Healthcare Systems volume. GE in October announced FDA 510(k) clearance for its Ultra Edition package on Vivid cardiovascular ultrasound systems, which includes AI-based features to enable clinicians to consistently acquire faster, more repeatable exams. GE has also sought to make it easy for health professionals to 3D-print models from patient scans like CT and MRI that are shown on the company’s Advantage Workstation. The company is also a major producer of ventilators needed to treat people with severe COVID-19 cases. – CN
Key personnel: Kieran Murphy, president & CEO; Katya Kruglova, VP, HR; Jan Makela, president & CEO, imaging; Anders Wold, president & CEO, ultrasound; Kevin O’Neill, president & CEO, pharmaceutical diagnostics; Amit Phadnis, VP & chief digital officer; Luiz Verzegnassi, president & CEO, services; Everett Cunningham, president & CEO, U.S. & Canada; Catherine Estrampes, president & CEO, EMEA; Yihao Zhang, president & CEO, China; Rob Walton, president & CEO, ASEAN, Korea & ANZ; Soichiro Tada, president & CEO, Japan; Rafael Palombini, president & CEO, Latin America; Shravan Subramanyam, president & CEO, India & South Asia; Michael McAlevey, VP, general counsel & business development; Thomas Westrick, president & CEO, life care solutions; Laila Gurney, chief quality & regulatory officer; Greg Gibbons, chief communications officer