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GE Life Sciences is part of GE Healthcare, which, with sales of $19.8bn last year, itself makes up 16% of General Electric’s overall revenues.The other part of GE Life Sciences is known as pharmaceutical diagnostics and comprises GE’s imaging tracers. GE Stock: General Electric has confidentially filed for a GE Healthcare IPO, an expected move. Join us at the ECR 2020 online! GE Healthcare Addresses COVID-19. An initial public offering for GE Healthcare through a spinoff “in 2019 looks unlikely at this point,” GE CEO Larry Culp told CNBC Monday. View the latest GE Healthcare announcements and thought leadership articles to learn more about how we are helping Elevate Healthcare. This is of little interest to Danaher and naturally it makes sense for GE to keep it alongside its imaging systems.
We want to hear from you.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services. GE is reportedly weighing its options following the deal, which casts off the biopharmaceutical business for $21.4 billion. A serial acquirer, this acquisition is its biggest ever, putting its 2015 acquisition of Pall for $13.8bn in the shade. The unit is a dominant player in hospital and lab equipment, generating … Followers of both groups view the deal as a win: Danaher’s shares are up 7% so far today, and GE’s 11%. The group’s chief executive, Larry Culp, has stated that he wants to focus General Electric on just two sectors: aviation and power. GE Biopharma sells instruments, consumables and software involved in drug discovery and development. "IPO of health care was Plan A, but we got lots of inbound calls about this business and this is clearly a superior path," Culp told CNBC's Additionally, according to Bloomberg, GE is still exploring options for its imaging business.Got a confidential news tip? Culp said GE is looking at the full spectrum of options for GE Healthcare, now that it will be without its biopharmaceutical business. The planned IPO of General Electric’s healthcare business has been shelved after the group agreed to sell GE Biopharma, a subunit of GE Healthcare, to Danaher for $21.4bn in cash. Both Danaher and GE are pursuing very different, but equally clearly defined, strategies. An IPO for GE Healthcare this year is now in doubt, Culp said. Keeping GE Healthcare would be a reversal of this strategy.Another point that suggests the IPO might still go ahead, albeit on a smaller scale and later than expected, is that today’s development sounds a lot like what GE was planning all along. GE’s healthcare unit spin-off mirrors the strategy adopted by Siemens AG. General Electric has filed confidentially for an initial public offering of its health care unit. What's New. GE Biopharma, which had sales of around $3bn in 2018, is one of two businesses that make up GE Life Sciences. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Laying out its IPO strategy last summer, GE said that the spin-off of its Healthcare unit would take place in a series of transactions whose structure was yet to be determined (Danaher is also in the throes of major change. GE Biopharma sells instruments, consumables and software involved in drug discovery and development. "We are focused on completing the carve out [of the biopharma business] — which is 15 percent of the $20 billion health-care segment — and focused on managing the remaining core business," the GE chairman and CEO told CNBC's "An IPO [for GE Healthcare] in 2019 looks unlikely at this point," Culp added.The unit is a dominant player in hospital and lab equipment, generating roughly $19 billion in revenue and $3.4 billion in profit last year.
It accounted for 15.8 percent of the conglomerate's total sales and 43.2 percent of its operating profit in 2017.The company has previously said spinning out the health unit made sense because it would allow the company to double down on its core industrial and energy businesses. It also has a spin-off of its own to be getting on with, having stated last July that it would float its dental unit in the second half of 2019.If both these moves go ahead as intended the Danaher that emerges will arguably be more of a service provider to the pharma industry than a classical medtech company. Earlier reports incorrectly suggested the plans were off the table.