GE

By Dean Seal

General Electric Co. has completed the separation of its healthcare business, which will start trading on the Nasdaq at market open as GE HealthCare Technologies Inc.

The industrial giant said in the fall of 2021 that it planned to break up into three companies, with its healthcare unit set to spin off first and its energy segment following in early 2024, leaving GE to focus on its aviation business.

GE will retain about 20% equity in GE HealthCare, which will trade under the ticker symbol "GEHC" starting Wednesday morning.

GE Healthcare is launching with a presence in more than 160 countries and about 51,000 employees serving more than a billion patients a year. The company expects its addressable markets to expand to $102 billion by 2025 from $84 billion in 2021.

GE shares, which trade on the New York Stock Exchange, rose 1.9% to $67.57 in premarket trading. Shares of GE Healthcare, which started trading last month on a "when issued" basis, were up 3.5% at $57.94 in premarket trading.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

January 04, 2023 07:08 ET (12:08 GMT)

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