General Electric Co. (GE) announced Wednesday that it has completed the separation of its healthcare business, launching GE HealthCare Technologies Inc., a global leader in Precision Care. Starting January 4, 2023, GE HealthCare will trade on Nasdaq under the ticker symbol "GEHC".
Holders of GE common stock received one share of GE HealthCare common stock for every three shares of GE common stock held. The distribution was part of a tax-free spin-off, resulting in tax efficiency for GE shareholders in the U.S.
GE is retaining approximately 19.9 percent of the shares of GE HealthCare common stock. GE Chairman and CEO Lawrence Culp Jr. will serve as non-executive chairman of GE HealthCare.
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