GE files confidentially for healthcare unit IPO, with public filing likely next spring: sources

According to people familiar with the matter, GE has filed confidentially for an initial public offering of its healthcare unit, with a public filing likely next spring, Bloomberg reported. A spokesperson for GE declined to comment on the speculation, but said "as we announced in June, [the company] intends to separate its healthcare business, but we have not confirmed the form or timing." 

The spokesperson added that "as an independent global healthcare business, GE healthcare will have greater flexibility to pursue future growth opportunities, react quickly to changes in the industry and invest in innovation."

In June, then GE chief executive John Flannery unveiled a plan to transform GE Healthcare into a standalone company within the next 18 months, by selling 20 percent of the healthcare unit and spinning off the rest to shareholders. His successor Larry Culp, who took over the helm in October, later suggested that he may sell an even larger share of the unit.

Bloomberg Intelligence analyst Karen Ubelhart has said that a newly public GE healthcare company would rank among the world's largest, with a potential enterprise value of $65 billion to $70 billion. In 2017, GE Healthcare generated $19.1 billion in revenue, up 5 percent from the year before, while profit growth was 9 percent higher at $3.4 billion. 

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