GE is reportedly weighing its options following the deal, which casts off the biopharmaceutical business for $21.4 billion. GE Healthcare Systems is a provider of technologies, digital infrastructure, data analytics and decision support tools used in the diagnosis, treatment and monitoring of patients. Both Danaher and GE are pursuing very different, but equally clearly defined, strategies.
The planned IPO of General Electric’s healthcare business has been shelved after the group agreed to sell GE Biopharma, a subunit of GE Healthcare, to Danaher for $21.4bn in cash.
Featured Offerings. "IPO of health care was Plan A, but we got lots of inbound calls about this business and this is clearly a superior path," Culp told CNBC's Additionally, according to Bloomberg, GE is still exploring options for its imaging business.Got a confidential news tip? WHAT WE DO A healthier world with more precise and efficient care. News and Articles. GE’s healthcare unit spin-off mirrors the strategy adopted by Siemens AG.
GE Healthcare Addresses COVID-19. Followers of both groups view the deal as a win: Danaher’s shares are up 7% so far today, and GE’s 11%. Culp said GE is looking at the full spectrum of options for GE Healthcare, now that it will be without its biopharmaceutical business. View the latest GE Healthcare announcements and thought leadership articles to learn more about how we are helping Elevate Healthcare. An initial public offering for GE Healthcare through a spinoff “in 2019 looks unlikely at this point,” GE CEO Larry Culp told CNBC Monday. The fact that GE has loaded the deal up with $400m of pension liabilities, a drag on its balance sheet for some time, will have helped its share bounce.When the deal closes towards the end of this year GE will still have a medtech business capable of generating around $17bn of revenue, largely thanks to the medical devices for which it is best known – imaging equipment such as MRI machines.
GE Biopharma sells instruments, consumables and software involved in drug discovery and development. Join us at the ECR 2020 online!
It accounted for 15.8 percent of the conglomerate's total sales and 43.2 percent of its operating profit in 2017.The company has previously said spinning out the health unit made sense because it would allow the company to double down on its core industrial and energy businesses. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. An IPO for GE Healthcare this year is now in doubt, Culp said.
We want to hear from you.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services. GE sells its Biopharma business for $21.4bn, but is its IPO cancelled or merely on hold? Deals. GE Life Sciences is part of GE Healthcare, which, with sales of $19.8bn last year, itself makes up 16% of General Electric’s overall revenues.The other part of GE Life Sciences is known as pharmaceutical diagnostics and comprises GE’s imaging tracers. Learn More.
A serial acquirer, this acquisition is its biggest ever, putting its 2015 acquisition of Pall for $13.8bn in the shade.
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