General Electric is planning an IPO for its medical technology subsidiary

General Electric

The group wants to follow the example of Munich rival Siemens.

(Photo: Reuters)

Chicago The medical technology division of General Electric (GE) is to be listed independently on the stock exchange from the first week of January 2023. The split-off (spin-off) of GE HealthCare should then be completed, as announced by GE on Monday.

GE boss Larry Culp wants to split the conglomerate into three parts, whereby GE itself is to be limited to aircraft and engine construction. Culp will become CEO of GE HealthCare, while Peter Arduino remains CEO.

The group follows the example of the Munich rival Siemenswho started his power engineering business as SiemensEnergy split off and the medical technology division Siemens Healthineers brought to the stock exchange. GE only wants to keep 19.9 percent of GE HealthCare.

More: Siemens Healthineers confirms annual targets despite lower profits

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