GE Plans to Form Three Public Companies

 

GE will form three industry-leading public companies concentrated on three sectors: aviation, energy, and healthcare. GE will retain 19.9 percent of shares in the new healthcare company, a spin-off of GE Healthcare, which will be fully functional by early 2023. As for renewable energy, GE plans to merge GE Renewable Energy, GE Power, and GE Digital by early 2024. Later on down the line, GE will be a company focused on aviation and the future of flight.

The goals are to create long-term growth and better value for customers, investors, and employees. GE plans to deepen operational focus and accountability to rise to customer needs. Distinct strategies and industry-tailored features will be fulfilled through capital allocations. Growth opportunities will be achieved through tactical strategies and financial flexibility. Incentives and career opportunities will be available to employees. Investment profiles will be presented in a compelling and more distinct manner to broaden investment areas. Finally, the boards of directors will have a thorough understanding of each domain.

H. Lawrence Culp, Jr., GE Chairman and CEO, said, “At GE we have always taken immense pride in our purpose of building a world that works. The world demands—and deserves—we bring our best to solve the biggest challenges in flight, healthcare, and energy. By creating three industry-leading, global public companies, each can benefit from greater focus, tailored capital allocation, and strategic flexibility to drive long-term growth and value for customers, investors, and employees. We are putting our technology expertise, leadership, and global reach to work to better serve our customers. Today is a defining moment for GE, and we are ready. Our teams have done exceptional work strengthening our financial position and operating performance, all while deepening our culture of continuous improvement and lean. And we’re not finished—we remain focused on continuing to reduce debt, improve our operational performance, and strategically deploy capital to drive sustainable, profitable growth. We have a responsibility to move with speed to shape the future of flight, deliver precision health, and lead the energy transition. The momentum we have built puts us in a position of strength to take this exciting next step in GE’s transformation and realize the full potential of each of our businesses.”

GE plans on reducing debt by over $75 billion at the end of 2021. By 2023, the company will be a well-capitalized, three-part company.

Acceletronics is an industry leader in delivering the best equipment performance and service reliability from CT Scanners and Linear Accelerators across all major brands and models. Call 610-524-3300 or visit our website: https://www.acceletronics.com.

 

Written by the digital marketing staff at Creative Programs & Systems: www.cpsmi.com.

Owners Can Now Repair Imaging Devices

 

A final rule was recently granted by the federal government that allows medical imaging equipment owners to repair their machines without intervention from the maker. This new rule shatters a copyright barrier that was previously in place.

An exemption to the Digital Millennium Copyright Act (DMCA) allows servicers to work around medical device security controls to access software required to maintain or restore the system. The Copyright Office Registrar recommended the Library of Congress moves forward with the change.

The Medical Imaging & Technology Alliance represents the original imaging equipment manufacturers and released a statement saying the recommendation to move forward will lead to “unnecessary safety and security risks” for patients.

In a statement, the President and CEO of Avante Health Solutions said, “This is significant to healthcare systems looking for affordable options to maintain and repair expensive medical equipment and associated devices. Avante is thrilled, as this ruling builds on the FDA’s recognition of the merits and safety of the services provided by independent service organizations.”

The Medical Imaging & Technology Alliance (MITA) outlined that manufacturers are regulated by the Food and Drug Administration, and independent technicians are not held to the same standards as they have a lower amount of scrutiny associated with their position.

Moreover, the alliance also voiced concern over whether manufacturers’ intellectual property would be exposed to the public, which would be detrimental to the industry.

“MITA Executive Director Patrick Hope said, “If this recommendation is ultimately accepted and implemented, it would amount to a license for unregulated third-party servicers to hack sensitive technology, creating grievous cybersecurity and patient safety risks. We intend to continue to advocate against this misguided approach.”

Acceletronics is an industry leader in delivering the best equipment performance and service reliability from CT Scanners and Linear Accelerators across all major brands and models. Call 610-524-3300 or visit our website: https://www.acceletronics.com.

 

Written by the digital marketing staff at Creative Programs & Systems: www.cpsmi.com.