Healthcare business to be named GE HealthCare
GE has announced the brand names of the future companies it will create through its planned separation into three industry-leading, global, investment-grade public companies focused on the growth sectors of healthcare, energy, and aviation.
GE HealthCare will be the name of GE’s healthcare business. GE’s existing energy portfolio of businesses, including Renewable Energy, Power, Digital, and Energy Financial Services, will sit together under the brand name GE Vernova. GE Aerospace will be the name of GE’s aviation business. All three planned companies will continue to benefit from GE’s heritage and global brand valued at nearly $20 billion*.
Additionally, GE announced that following the completion of the planned spin-off, shares of GE HealthCare will be listed on The Nasdaq Global Select Market under the ticker symbol “GEHC.” By listing on Nasdaq, GE HealthCare will benefit from the exchange’s profile and track record as a market for innovative, technology-led public companies, particularly in the healthcare sector.
GE intends to execute the tax-free spin-off of GE HealthCare in early 2023, creating an independent company driving innovation in precision health to improve patient outcomes and address critical patient and clinical challenges. Building on a more than 100-year history, the GE HealthCare name and Monogram will serve as an enduring badge of safety, quality, trust, and innovation. The new brand color for GE HealthCare is called “compassion purple” to reflect more humanity and warmth and achieve greater distinction. The company will continue to be at the forefront of provider and patient care with more than four million product installations and over two billion patient exams a year.
Linda Boff, Chief Marketing Officer, GE said, “Over the course of the last six months, we engaged in a thorough, customer-led process to understand the intrinsic value of the GE brand for our planned future companies. Based on data and analysis drawn from thousands of conversations, it became clear that the GE name and our century-plus old Monogram represent a legacy of innovation, symbol of trust by global customers, pride for our team, and a talent magnet for future leaders. We’re proud these future businesses will be able to build on GE’s DNA of innovation.”
By creating three separate companies, each will benefit from greater focus, tailored capital allocation, and strategic flexibility to drive long-term growth and value.**
*According to Interbrand Best Global Brands 2021.
**These plans may be subject to the outcome of legally mandated consultation in some parts of the world.
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