General Electric Archives - Medical Design Sourcing

GE HealthCare spinoff moves forward

GE (NYSE: GE) has filed a Form 10 registration statement with the SEC as aims toward completing a GE HealthCare spinoff in early 2023.

With $17.6 billion in annual revenue and 51,000 employees, GE HealthCare will remain a major medtech business. (Check out our recent Medtech Big 100 report on the world’s largest medical device companies.) The plan is for GE HealthCare to stay headquartered in Chicago. It has filed with the Nasdaq exchange to trade under the symbol GEHC.

“This is a milestone day for the GE HealthCare team, who is dedicated to our mission to create a world where healthcare has no limits,” GE HealthCare CEO Peter Arduini said in a news release out yesterday. “We believe we have a clear path to deliver precision innovation for our customers and their patients while accelerating growth and optimizing our business as a standalone company.”

GE will retain up to 19.9% of GE HealthCare’s outstanding shares following the sp…

GE Healthcare to keep its name after spinoff — but with tweaks

The new logo for the stand-alone GE HealthCare company [Image courtesy of GE Healthcare]GE (NYSE:GE) announced today that GE Healthcare will keep its name after it spins off from its parent company early next year.

Though, new branding capitalizes the “C” in “healthcare” (i.e. GE HealthCare) — a move the company says better demonstrates the healthcare business’s focus on supporting both better health and better care and the interdependency of the two. The new logo also uses a softer font and substitutes the classic GE blue with a soft purple that is meant to evoke compassion.

“We arrived at this decision by listening to the people who know us best: our team members and customers. We learned that GE Healthcare is a name associated with innovation, trust, and reliability, and the monogram symbolizes quality, safety, and trust. At the same time, we knew we had an opportunity to more closely align ourselves to our work supporting pa…

Johnson & Johnson to spin off consumer segment

Recently, General Electric (NYSE:GE), Zimmer Biomet (NYSE: ZBH) and Toshiba (TYO:6502) announced their plans to slim down by spinning out core businesses. Now, Johnson & Johnson (NYSE:JNJ) is following a similar approach by making its consumer health business a standalone company.

J&J will retain its pharmaceutical and medical device segments.

The company said in an announcement that it made the decision to boost operational performance and strategic flexibility.

Get the full story from our sister site, Pharmaceutical Processing World.

GE beats The Street as healthcare segment thrives in Q2

GE (NYSE:GE) shares ticked up today on second-quarter results that beat the consensus forecast.

The Boston-based company’s healthcare segment posted profits of $801 million, registering a bottom-line gain of 58.3% year-over-year on sales of $4.5 million — a 14% increase on revenues from the previous year.

GE’s overall sales totaled $18.3 billion for the three months ended June 30, 2021, marking sales growth of 8.8%. Adjusted to exclude one-time items, earnings per share were 5¢, 1¢ ahead of Wall Street, where analysts were looking for sales of $18.1 billion.

“The GE team delivered strong overall performance in the second quarter,” GE chairman & CEO H. Lawrence Culp Jr. said in a news release. “Orders and revenue returned to growth, our operating margins expanded across all segments, and we generated positive Industrial free cash flow. Momentum is building across our businesses, driven by healthcare and services overall ……

CVRx’s Yared speaks to the value of confidence and cooperation

Nadim Yared, CEO of CVRx

This week, CVRX reported positive six-month trial results for its Barostim Neo, an FDA-approved treatment for heart failure.

The results follow years of close work between the agency and CVRx, one of the more ambitious startups in medtech. CVRx is targeting a huge clinical need with novel neuromodulation technology.

In this week’s DeviceTalks Weekly podcast, CEO Nadim Yared walks us through the negotiations the company went through with the FDA to get to this point.

Yared, the prior chairman of the industry group AdvaMed, also shares the story of his career, which started early on when he secured a job at GE even before graduating college.

In this talk, Yared speaks to several issues including:

The power of confidence and the dangers of overconfidence when building a career. How he decided to take the job at CVRx (and why he didn’t initially want to talk abo…

$4.2m project with GE would develop air transport vital-signs patch

The Nano-Bio Materials Consortium (NBMC) announced this week that it has launched a project with GE Research to develop a medical-grade wireless patch that monitors the vital signs of medical patients during emergency air transport.

The device would advance medical care coordination, records management and patient outcomes in aeromedical evacuation and help drive advances in consumer-based telehealth, according to the Milpitas, Calif.-based consortium. The 24-month project is funded at $4.22 million by the consortium, GE Research, the State of New York, State University of New York at Binghamton, DuPont and UES.

Get the full story on our sister site, Medical Design & Outsourcing.