GE released its third quarter earnings report showing the progress of its plan to spin off its healthcare business units in the first week of January 2023.
The company has named a board of directors, filed its Form 10 statement to publicly traded securities and set its investor day for Dec. 8. GE hopes the spinoff will increase shareholder value and innovation, according to an Oct. 25 GE news release provided to Becker's.
GE saw a 4 percent year-over-year growth in orders in the third quarter.
"Our planned spins are on track — with GE HealthCare ready to launch in January, and GE Vernova in early 2024," GE Chair and CEO Larry Culp said. "GE HealthCare's in the home stretch now. I'm particularly proud of what they've accomplished … navigating COVID, bringing in a new CEO and CFO, and now preparing to operate as an independent global leader in precision health."