DOTmed Home MRI Oncology Ultrasound Molecular Imaging X-Ray Cardiology Health IT Business Affairs
News Home Parts & Service Operating Room CT Women's Health Proton Therapy Endoscopy HTMs Mobile Imaging
SEARCH
Current Location:
>
> This Story


Log in or Register to rate this News Story
Forward Printable StoryPrint Comment
advertisement

 

advertisement

 

Business Affairs Homepage

Robert Sledd Owens & Minor names board member, chairman and interim president and CEO

Clinical wearables – remaining competitive in an evolving market Insights from Ravi Kuppuraj, Business Leader of Connected Sensing Venture for Philips

TIAA Bank acquires $1.5 billion portfolio from GE Capital's HEF business Portfolio of healthcare equipment leases and loans

Daniel Kelsey AHRA hires chief executive officer

Driving premium platform valuations for future growth The radiology M&A market is red hot, help investors see the value in your business

Veritas Capital, Evergreen Coast Capital to take athenahealth for $5.7 billion Gives athenahealth stock holders $135 in cash per share

A look into the medical device design process Go behind the scenes to see what factors contribute to the design of new medical devices

How hassle maps can improve radiology department operations Tips for finding and addressing friction points and improving overall patient care in radiology

When radiologists speak up, follow-up imaging improves Study supports better communication between radiologists and referring clinicians

Dr. Jonathan Luchs Premier Radiology Services appoints chief medical officer

Is GE Healthcare spinoff still on track?

by Thomas Dworetzky , Contributing Reporter
New GE Chairman and CEO H. Lawrence Culp Jr. reportedly noted during a Q3 earning call that “the timing and sequencing might change” on the company's healthcare spinoff, according to the Milwaukee Business Journal.

A GE spokeswoman reaffirmed to the paper that the effort was still on its original track, however.

Story Continues Below Advertisement

RamSoft PowerServer™ RIS/PACS - Enabling Efficient Diagnostic Imaging

RamSoft's PowerServer™ RIS/PACS is an intuitive, single database application that enables healthcare practices to operate diagnostic imaging more efficiently than ever before.Why is this important? Click to find out.



The comments come at a moment of massive change for the giant, with its ex-CEO John Flannery in place barely a year before being replaced by Culp, raising questions about some prior plans.

Culp, who just took the top spot at the beginning of the month, was Danaher CEO from 2000 to 2014, and is credited with a “highly successful transformation of the company from an industrial manufacturer into a leading science and technology company,” according to GE.

“GE remains a fundamentally strong company with great businesses and tremendous talent,” Culp noted at the time, but warned that he and leadership “remain committed to strengthening the balance sheet, including deleveraging.”

The multinational conglomerate had announced the plan for its healthcare division in late June, framing it as a final in a string of spinoffs aimed at slashing massive debt, simplifying its structure, and raising cash.

“GE expects to generate cash from the disposition of approximately 20 percent of its interest in the Healthcare business and to distribute the remaining 80 percent to GE shareholders through a tax-free distribution,” Kieran Murphy, president and CEO of GE Healthcare, said in a statement when the plan was announced.

He also noted that timing was flexible, stressing that, “the structure, sequence and timing of these transactions will be determined and announced at a later date, but are expected to be completed over the next 12 to 18 months.”

That said, GE's latest earnings report underscored the need for dramatic changes.

GE's Q3 ending September 30 revealed a loss of $2.63 per share from GAAP continuing operations, adjusted earnings per share (non-GAAP) of 14 cents, down a third from the year-ago period. There was also a massive non-cash goodwill impairment charge of $22 billion, before tax, related to GE Power, according to a company statement.

GE also announced bold plans to bolster the balance sheet, including dropping its quarterly dividend from 12 cents to 1 cent a share in December, and reorganizing the power division.
  Pages: 1 - 2 >>

Business Affairs Homepage


You Must Be Logged In To Post A Comment

Advertise
Increase Your
Brand Awareness
Auctions + Private Sales
Get The
Best Price
Buy Equipment/Parts
Find The
Lowest Price
Daily News
Read The
Latest News
Directory
Browse All
DOTmed Users
Ethics on DOTmed
View Our
Ethics Program
Gold Parts Vendor Program
Receive PH
Requests
Gold Service Dealer Program
Receive RFP/PS
Requests
Healthcare Providers
See all
HCP Tools
Jobs/Training
Find/Fill
A Job
Parts Hunter +EasyPay
Get Parts
Quotes
Recently Certified
View Recently
Certified Users
Recently Rated
View Recently
Certified Users
Rental Central
Rent Equipment
For Less
Sell Equipment/Parts
Get The
Most Money
Service Technicians Forum
Find Help
And Advice
Simple RFP
Get Equipment
Quotes
Virtual Trade Show
Find Service
For Equipment
Access and use of this site is subject to the terms and conditions of our LEGAL NOTICE & PRIVACY NOTICE
Property of and Proprietary to DOTmed.com, Inc. Copyright ©2001-2018 DOTmed.com, Inc.
ALL RIGHTS RESERVED