When GE Capital sold its entire Healthcare Financial Services (HFS) business to Capital One for close to $9 billion, including $8.5 billion in outstanding loans, some wondered whether GE was looking to get out of healthcare altogether.
That was in August. On September 17, the mega-corporation set out to lay those rumors to rest.
News service Reuters is reporting that GE Healthcare CEO John Flannery has assured investors that every scrap of the $18 billion division remains a key part of its future plans.
Speaking to investors at a Morgan Stanley conference, Flannery said “all aspects of healthcare are part of our portfolio,” according to Reuters.
GE Healthcare has reported flat revenue and profit over the past few years, including with its diagnostic imaging equipment and healthcare-IT products.
At the investor gathering, Flannery added that GE Healthcare is frequently asked about its life-sciences unit, whose products include drug-development tools.
He likened this business to “a high-value beachfront property that is appreciating in value.”
“There’s a lot of things we can do [internally] to make our own business better,” he said. “Our focus is very heavily organic.”
Dave P. has worked in journalism, marketing and public relations for more than 30 years, frequently concentrating on hospitals, healthcare technology and Catholic communications. He has also specialized in fundraising communications, ghostwriting for CEOs of local, national and global charities, nonprofits and foundations.