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GE completes separation from GE HealthCare


BOSTON–(BUSINESS WIRE)–GE (NYSE: GE) announced that it has completed the separation of its healthcare business, launching GE HealthCare Technologies Inc. (“GE HealthCare”), a global leader in precision healthcare. Effective today, January 4, 2023, GE HealthCare will trade on Nasdaq under the symbol “GEHC”.

H. Lawrence Culp Jr., Chairman and CEO of GE and CEO of GE Aerospace, said, “The successful spin-off of GE HealthCare marks a pivotal moment in our transformation into three independent companies focused on critical growth sectors. I am extremely proud of the teams at GE and GE HealthCare for their work in preparing this great company to stand out as an industry-leading, investment-grade company focused on precision care.

Culp continued: “We are on track and confident in our plans to unlock the potential of GE Aerospace and GE Vernova as separate companies in early 2024. These two global leaders are creating a smarter, more efficient future of flight and driving decarbonization for cope with the energy transition. With lean and innovation at our core, we couldn’t be more excited about the future. »

Holders of GE common stock received one common share of GE HealthCare for every three common shares of GE held. The distribution was part of a tax-exempt spin-off, resulting in tax efficiency for GE shareholders in the United States.

GE retains approximately 19.9% ​​of the common stock of GE HealthCare. Culp will serve as non-executive chairman of GE HealthCare.

Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisors. Evercore, Morgan Stanley and PJT Partners were GE’s lead financial advisors on the transaction. GE also received legal advice from Gibson, Dunn & Crutcher LLP and DLA Piper and financial advice from BofA Securities, Citibank and Goldman Sachs.

For more information, please see GE’s “Spin-off Resources” page on GE’s Investor Relations website:

Forward-Looking Statements and Cautions

This document contains forward-looking statements, that is, statements regarding future events that, by their nature, address matters that are, to varying degrees, uncertain. For further details on uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements, including (1) our success in executing and completing any asset disposals or other transactions, including our planned spin-off of our energy business portfolio which is expected to be combined as GE Vernova (Renewable Energy, Power, Digital and Energy Financial Services), and the sale of our interests in Baker Hughes, AerCap and GE HealthCare, the timing of the closing of these transactions, the ability to satisfy the closing conditions, and the expected revenues, considerations and benefits for GE; (2) changes in macroeconomic and market conditions and market volatility, including impacts related to the COVID-19 pandemic, risk of recession, inflation, supply chain constraints or disruptions supplies, rising interest rates, the value of securities and other financial assets (including our interests in Baker Hughes, AerCap and GE HealthCare), prices of oil, natural gas and other commodities and interest rates and the impact of such changes and volatility on our business operations, financial results and financial condition and (3) our de- leveraging and capital allocation plans, including with respect to relates to actions to reduce our indebtedness, the capital structures of the three public companies we plan to form from our operations, the timing and amount of dividends, share buybacks, organic investments and t other priorities, see, as well as our filings with the SEC. We do not undertake to update our forward-looking statements.

1 GE’s Energy Business Portfolio



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