2. GE to spin out GE Healthcare biz
Consolidation has been a major trend in the medical device space. But there have been multinationals including Philips and Siemens going in the other direction, devolving in order to have better focus.
Add GE to the list.
General Electric (NYSE:GE) announced late in the second quarter that it is looking to spin-out its GE Healthcare subsidiary as a stand-alone, publicly traded business AS IT plans to focus on its aviation, power and renewable energy businesses.
GE Healthcare has long been a bright spot for its parent, consistently posting sales and profit gains despite overall declines at GE.
General Electric CEO John Flannery – who was formerly the head of the healthcare unit – said GE Healthcare chief Kieran Murphy will stay on to lead the $19 billion company after it has spun out.