GE Healthcare's fourth-quarter profit, revenue up

GE Healthcare announced Friday that fourth-quarter profit increased 10 percent versus the prior-year period to $1 billion, "driven by volume growth and cost productivity partially offset by price," while sales grew 3 percent to $5.1 billion.

During the quarter, GE Healthcare noted that orders rose 3 percent to $5.4 billion, which included a 19-percent rise in China, a 16-percent increase in Latin America and 6-percent growth in Europe, while orders in the US fell by 1 percent. The company said that it is "optimistic" about the US economy, but cited "slow-growth and volatile environment" in the quarter.

In the three-month period, GE Healthcare announced collaborations with University of California, San Francisco and Boston Children's Hospital to apply analytics to radiology. In September, the company announced the launch of its first healthcare accelerator, called five.eight, which GE Healthcare said is "aimed at improving healthcare outcomes" in developing economies.  

For the full year, GE Healthcare noted that profit increased 10 percent versus the prior-year period to $3.2 billion, while sales grew 4 percent to $18.3 billion.

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