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 Pediatrics
Current Location:
> This Story

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




Business Affairs Homepage

Installing and removing imaging equipment is no small task Expert insights on how project management is evolving

Canon, Toshiba each hit with $2.5 million fine over acquisition deal Deal violated premerger notification and waiting period requirements

Ohio radiology services president indicted in Medicare scam Charged for services never provided and received nearly $2 million

Getting ahead of the digital health avalanche How can a health system know which innovative tools are worth its time?

Half of radiologists have net worth of $2 million or more New survey analyzed responses from over 20,000 physicians in over 30 specialties

Varian to acquire Cancer Treatment Services International for $283 million Enables production of multidisciplinary solutions

FBI opens probe into alleged kickbacks by healthcare OEMs in Brazil Accused of making bribes to sell medical equipment

icometrix raises $18 million in funding Will help with deployment of icobrain software in Europe

Q&A with Michael Darling, VP Supply Chain, St. Luke’s Health System Discussing the clinical integration of supply chain

Consolidation, consumerism and telehealth are the top three industry trends for 2019 According to a wide sampling of 1,000 healthcare stakeholders

GE likely to hold onto NY digital X-ray detector manufacturing plant — for now

by Thomas Dworetzky , Contributing Reporter
General Electric may be adjusting its plans to spin off its entire healthcare division, which could be good news for the 125 workers at its digital X-ray detector manufacturing facility at the Rensselaer Technology Park in North Greenbush, Rensselaer County, NY.

GE has about 4,000 local employees in the area.

Story Continues Below Advertisement


Special-Pricing Available on Medical Displays, Patient Monitors, Recorders, Printers, Media, Ultrasound Machines, and Cameras.This includes Top Brands such as SONY, BARCO, NDS, NEC, LG, EDAN, EIZO, ELO, FSN, PANASONIC, MITSUBISHI, OLYMPUS, & WIDE.

New GE CEO Larry Culp Jr. told a banking conference recently that the scheduled sale of its biopharma interests to Danaher, for $21.4 billion, created solid value, and the signals are that it might be able to retain the imaging business as part of its remaining $17 billion healthcare unit, whose imaging technology also has important industrial uses as well.

"So we think it's a heck of a business," Culp said, according to the Albany Times Union newspaper, adding that, "there are a number of strategic options that we have in and around healthcare over time, but being able to retain so much of the business, improve it and grow it, we think is another way in which we're going to be unlocking value at GE."

GE CFO Jamie Miller also noted that the company “may keep its healthcare diagnostics and imaging businesses after the planned sale of the biopharma unit,” at a recent Deutsche Bank-led conference, according to Reuters.

He noted that the corporate culture is “shifting” under Culp, but that such movements “take time,” according to the wire service.

At a Bernstein conference on May 30, Culp had noted that “part of what we’re doing operationally, I think, ultimately, culturally is really transitioning the way we run the business day-in, day-out to be, if you will, more of an operating-oriented company, business-by-business from the bottom-up, not top-down. We think that helps us unlock real value at GE over time, both in terms of helping us grow share profitabl, and also to accrete margins and improve our overall cash generation,” according to a report on Seeking Alpha.

GE's spinoff deal with Danaher is still officially on track, but according to a report at 24/7 Wall Street, analyst John Inch at Gordon Haskett has noted that a “deterioration” in the life sciences market may make the present price open to renegotiation, which might alter the attractiveness of the deal for either or both parties.

When the deal was announced in February, Danaher's president and CEO, Thomas P. Joyce Jr. said, in a statement, “We expect GE Biopharma to advance our growth and innovation strategy in an important and highly attractive life science market. We see meaningful opportunities to harness the power of the Danaher Business System to further provide GE Biopharma's customers with end-to-end bioprocessing solutions that help enable breakthrough development and production capabilities.”

Also at that time, Culp told CNBC that “an IPO [for GE's healthcare unit] in 2019 looks unlikely at this point.”

Culp sat atop Danaher as CEO and president from 2000 to 2014, joining the GE board in April, 2018, and becoming GE Chairman and CEO when he replaced John Flannery in October, 2018. In April, 2018, Danaher expressed interest in taking the GE Life Sciences unit, according to a report in the Wall Street Journal, noted the business news station.

Business Affairs Homepage

You Must Be Logged In To Post A Comment

Increase Your
Brand Awareness
Auctions + Private Sales
Get The
Best Price
Buy Equipment/Parts
Find The
Lowest Price
Daily News
Read The
Latest News
Browse All
DOTmed Users
Ethics on DOTmed
View Our
Ethics Program
Gold Parts Vendor Program
Receive PH
Gold Service Dealer Program
Receive RFP/PS
Healthcare Providers
See all
HCP Tools
A Job
Parts Hunter +EasyPay
Get Parts
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
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, Inc. Copyright ©2001-2019, Inc.