GE HealthCare is becoming part of the S&P 500 today — its first day trading on the Nasdaq as an independent company under the GEHC ticker.
S&P Global announced the addition of GE HealthCare to the index on Dec. 28. Vornado Realty Trust moves to the S&P MidCap 400.
GE first said it planned to spin off its medtech business in November 2021. GE’s board signed off on the deal in November 2022.
Chicago-based GE HealthCare is No. 6 in our sister site Medical Design & Outsourcing‘s Big 100 ranking of the world’s largest medical device companies. It has roughly $18 billion a year in annual revenue and 51,000 employees,
The company has Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics businesses under its umbrella. On top of M&A deals, it has been forging partnerships with other major medtech companies, including Medtronic and Elekta. It’s reportedly even considered acquiring business units that Medtronic is seeking to spin off.
GE HealthCare CEO Peter Arduini said nearly a month ago that being a stand-alone company will enable a more agile, profitable, and faster-growing business. He said: “Our goal is to advance the future of healthcare as a global leader in delivering personalized care across the patient journey as we continue to deliver solutions that improve outcomes for patients and increase productivity for customers.”