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GE HealthCare shares precision care strategy with investors

por John R. Fischer, Senior Reporter | December 13, 2022
Artificial Intelligence Business Affairs Cardiology CT Molecular Imaging MRI Ultrasound Women's Health X-Ray
GE HealthCare will be divided into four segments following its spinoff.
At its investor day meeting on December 8 in New York City, GE announced that it expects mid- to single-digital organic revenue growth for the stand-alone business over the midterm, with high-teens to 20% adjusted earnings before interest and taxes (EBIT) margin.

The company also discussed its strategies for the four segments of the business, which include imaging (CT, MR, molecular imaging, X-ray, women's imaging, and image-guided therapy), ultrasound, patient care solutions (patient monitoring systems), and pharmaceutical diagnostics (contrast media and radiopharmaceuticals).

Imaging will focus on its increasing use in diagnosis, broad-based population screening programs, expanded indications for AI and new technologies in high-end diagnostics and new therapeutic procedures with precision imaging guidance.
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It will introduce higher-margin products; platform initiatives; and digital and AI technologies, while expanding its portfolio across care pathways and increasing use of the GE Edison’s platform’s digital and AI features. Jan Makela will remain CEO of the division.

The ultrasound segment will expand adoption in therapy guidance, screening and point-of-care, as well as leverage AI and automation to introduce it into adjacent markets and widen its digital capabilities and ecosystem, said Ultrasound CEO Roland Rott.

Patient care solutions CEO Thomas Westrick says his segment will oversee patient monitoring, maternal infant care, anesthesia and diagnostic EKG technology. It will develop decision-support and workflow solutions that use data from devices across the entire healthcare system via the Edison platform to support patients at scale, increase productivity, reduce clinician burdens and overcome capacity constraints. It will also target markets where it has the highest margins.

For Pharmaceutical Diagnostics, the company will expand manufacturing capacity and implement price initiatives for iodinated X-ray and CT contrast media, said Pharmaceutical Diagnostics CEO Kevin O’Neill.

GE first announced plans to spin off its healthcare business in 2018.

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