GE files for SEC registration for planned health care (NYSE:GE)
General Electric (NYSE:GE) said on Tuesday it filed a Form 10 registration statement with the Securities and Exchange Commission for its health care plan, called GE Healthcare.
New company will include four business segments: imaging, ultrasound, patient care solutions and pharmaceutical diagnostics.
The spin-off is planned to be tax free for GE (GE) and GE shareholders for U.S. federal income tax purposes.
The company plans to distribute at least 80.1% of the common stock of GE HealthcareCare to GE (GE) shareholder, while GE plans to retain a 19.9% stake.
GE Healthcare has been a bit positive for the company overall compared to the start of the year, with 1-H revenue up 1% while revenue for the renewable energy and energy segments fell.
The new company will list on Nasdaq under the ticker symbol GEHC, beginning early next year.
The side story is part of GE (GE) plan established three separate, independently operated public companies with a focus on healthcare, aeronautics and energy.