‘Deliberate action’“It demonstrates that we are executing on our strategy by taking thoughtful and deliberate action to reduce leverage and strengthen our balance sheet,” Mr Culp said in a statement. Until recently, the company had plans to spin off the entire healthcare unit. Mr Culp, however, said in January GE would sell nearly half of the unit. The biopharma business accounted for 15 per cent of GE’s healthcare business revenue in 2018. The sale leaves GE’s healthcare unit with its medical device unit, which makes X-ray, CT scan and MRI machines, and its pharmaceuticals diagnostic unit.

Source: The Irish Times February 25, 2019 15:00 UTC