GE to capitalize on increasing demand for diagnostics

By spinning off its healthcare division, GE is hoping to capture the market for diagnostic imaging equipment, which is growing rapidly.

Photo: Vincent Kessler/Reuters/Ritzau Scanpix

General Electric is looking to spin off its healthcare division, GE Healthcare, betting big on the fast-growing market for diagnostic equipment – a sector that is facing challenges from artificial intelligence technology and growing competition from startups, as reported by the Wall Street Journal.

GE Healthcare, which manufactures MRT and ultrasound equipment, along other diagnostic tools, will be spun off from the beginning of 2023, and GE is planning on keeping a 19.9 percent stake in the new company.

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