GE Healthcare is 'well-positioned for above average profitability’

General Electric Company (NYSE: GE) tanked 20% on Wednesday after it completed the spin-off of its healthcare unit.

Expert shares his outlook on GE Healthcare

GE Healthcare Technologies Inc debuted on Nasdaq this morning under the ticker “GEHC”. At writing, it has a market cap of over $25 billion.

For every three shares of General Electric, shareholders received one share of GE Healthcare Technologies, as part of the spin-off. Discussing the future of the new company, Nicholas Heymann – the Head of Global Industrial Infrastructure at William Blair said:

General Electric continues to own nearly 20% of GE Healthcare.

Heymann expects steady growth at GE Healthcare

In a statement, the multinational conglomerate also confirmed that it’s on track to separate GE Vernova and GE Aerospace in early 2024. Once all units are spun off as independent companies, the original General Electric will continue as an aviation-focused business.

GE Healthcare serves an estimated 1.0 billion patients every year and currently brings in about $18 billion in annual revenue. “Imaging” is its largest business with north of $9.0 billion in annual revenue. This morning on CNBC’s “Worldwide Exchange”, Heymann added: