In late June, it announced that it was spinning off its healthcare division as a separate enterprise in an effort to focus its attention on its power, aviation and renewable energy businesses.

The news follows a string of spinoffs undertaken to cut debt, simplify its structure, and raise cash, including the spinoff of its train manufacturing business last month and the $3.3 billion sale of its distributed power division. It will also sell off shares of its ownership in oil services company Baker Hughes over the next two to three years.


“Today marks an important milestone in GE’s history,” CEO John Flannery said in a statement. “We are aggressively driving forward as an aviation, power and renewable energy company – three highly complementary businesses poised for future growth. We will continue to improve our operations and balance sheet as we make GE simpler and stronger.”

The news follows a tough year for the company, which has seen a loss of $100 billion in wealth, with its stock dropping by 55 percent against a 15 percent overall fall of the Dow. It also suffered removal from the Dow Jones Industrial Average.

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