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GE to Form Tax-Free Spin-Off of GE Healthcare Focused on Precision Health

by Fred Pennic 11/09/2021 Leave a Comment

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GE to Form Tax-Free Spin Off of GE Healthcare Focused on Precision Health

What You Should Know:

Today, GE announced plans to form a tax-free spin-off of GE Healthcare, creating a pure-play company at the center of precision health in early 2023.

The announcement is part of GE plans to form three independent industry-leading, global, investment-grade public companies focused on the growth sectors of aviation, healthcare and energy.

GE is on track to reduce debt by more than $75 billion by the end of 2021 and is now on track to bring its net-debt-to-EBITDA* ratio to less than 2.5x in 2023. GE will also continue to drive operating improvements for sustainable profitable growth, and the company now expects to achieve high-single-digit free cash flow margins* in 2023. As a result, GE is in a strong position to execute this plan to form three well-capitalized, investment-grade companies.

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Tagged With: GE healthcare

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