General Electric Set to Spin Off Health Unit—Putting Focus Back on Power Division
GE HealthCare shares start trading this week, but investors are cautious about prospects for spinoff of power business
General Electric’s wind and gas turbine businesses are expected to be combined with other GE energy businesses into GE Vernova, to split off in early 2024. Photo: Taylor Weidman/Bloomberg News
General Electric Co. will start 2023 by splitting off its healthcare unit, completing a key step in the slow-motion breakup of the industrial giant. For the rest of the year it will face questions about the next big step: shedding its power businesses.
GE HealthCare Technologies Inc. will start trading this week, leaving the once-sprawling conglomerate with three divisions: jet engines, natural gas-powered turbines and wind turbines. The gas and wind turbines are expected to be combined with other GE energy businesses into a new company called GE Vernova that will split off in early 2024.
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