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GE to Spin Off Health-Care Business in Latest Revamp
General Electric plans to spin off its health-care business and unload its ownership in oil-services company Baker Hughes, people familiar with the matter said, betting that the once-sprawling conglomerate can reverse a painful slump by further shrinking.
The final plan, expected to be presented to investors on Tuesday, focuses GE around its power, aviation and renewable-energy businesses, the people said. These units, which accounted for more than half of GE’s $122 billion in revenue last year, mostly sell turbines to power plants and engines to jet makers.
General Electric plans to spin off its health-care business and unload its ownership in oil-services company Baker Hughes, people familiar with the matter said, betting that the once-sprawling conglomerate can reverse a painful slump by further shrinking.
The final plan, expected to be presented to investors on Tuesday, focuses GE around its power, aviation and renewable-energy businesses, the people said. These units, which accounted for more than half of GE’s $122 billion in revenue last year, mostly sell turbines to power plants and engines to jet makers.
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