Summary
GE HealthCare Technologies Inc. completed its spin-off from General Electric Company on January 3, 2023, and began trading as an independent public company. The company operates as a leading global medical technology, pharmaceutical diagnostics, and digital solutions innovator, organized into four key segments: Imaging, Ultrasound, Patient Care Solutions (PCS), and Pharmaceutical Diagnostics (PDx). For the fiscal year ended December 31, 2022, GE HealthCare reported total revenues of $18.34 billion, representing a 4% increase (7% organically) compared to the previous year. The company experienced growth in its Imaging and Ultrasound segments, driven by new product introductions and acquisitions, though this was partially offset by unfavorable foreign currency impacts and a decrease in service revenues. Financially, the company reported operating income of $2.52 billion and net income attributable to GE HealthCare of $1.92 billion for 2022, both declining year-over-year primarily due to inflationary cost pressures and increased investments in R&D and commercial activities. The company also significantly increased its debt during the year in preparation for and as a result of the spin-off, with total debt reaching $8.25 billion. Despite these challenges, GE HealthCare generated $2.13 billion in cash from operating activities and remains focused on its strategy of delivering industry-leading innovations, building integrated solutions, and enabling the digitization of healthcare.
Financial Highlights
47 data points| Revenue | $18.34B |
| Gross Profit | $7.18B |
| R&D Expenses | $1.03B |
| SG&A Expenses | $3.63B |
| Operating Expenses | $4.66B |
| Operating Income | $2.52B |
| Net Income | $1.92B |
| EPS (Basic) | $4.22 |
| EPS (Diluted) | $4.22 |
| Shares Outstanding (Basic) | 454.00M |
| Shares Outstanding (Diluted) | 454.00M |
Key Highlights
- 1Completed spin-off from General Electric Company on January 3, 2023, establishing GE HealthCare as an independent, publicly traded entity (GEHC on Nasdaq).
- 2Reported total revenues of $18.34 billion for the fiscal year ended December 31, 2022, a 4% increase (7% organically) over the prior year, driven by strong performance in Imaging and Ultrasound segments.
- 3Operating income decreased by 10% to $2.52 billion, and net income attributable to GE HealthCare decreased by 15% to $1.92 billion in 2022, primarily due to inflationary cost pressures and increased R&D and commercial investments.
- 4Acquired BK Medical in December 2021, which contributed to growth in the Ultrasound segment, expanding capabilities into surgical and therapeutic interventions.
- 5The company significantly increased its debt load, ending 2022 with $8.25 billion in senior unsecured notes, to support its strategic objectives and capital structure as an independent entity.
- 6Generated $2.13 billion in cash from operating activities, demonstrating continued strong cash generation, though free cash flow decreased by 35% to $1.83 billion due to increased receivables and higher cash taxes paid.
- 7The company operates across four segments: Imaging, Ultrasound, Patient Care Solutions (PCS), and Pharmaceutical Diagnostics (PDx), all of which are critical to its diversified revenue stream and market position.