GE got into computer manufacturing because in the s they were the largest user of computers outside the United States federal government ,  aside from being the first business in the world to own a computer. EPA designated the Pittsfield plant and several miles of the Housatonic to be a Superfund site in , and ordered GE to remediate the site. In the early s Kurt Vonnegut was a writer for GE. Views Read Edit View history. Retrieved December 21, Retrieved February 15, Retrieved July 19,
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Instead, GE took the bolder approach of spinning out the whole division into a stand-alone entity. The spin-off of the healthcare division could simply be the executive management capitalising on debt-reduction for GE overall. However, the idea of separating healthcare technology from industrial businesses has gained popularity of late, first with Philips separation of its Healthcare and Lighting divisions to become a pure-play healthcare vendor, followed by Siemens earlier this year with its IPO for Siemens Healthineers.
Most uncertainty lies around horizontal service functions, including research and development, supply chain, financing and other shared operational functions. GE has for a while operated a network of global research and innovation hubs, shared across all divisions; extracting healthcare from this will be no easy task and could well interfere with future technology innovation, stalling new product pipeline.
Manufacturing and supply chain will also need to be readdressed; while the firm has a variety of dedicated manufacturing sites for healthcare, component and material supply to these sites will also be closely associated with broader procurement and inventory across the industrial units.
Questions and uncertainty will also arise around how cross-division initiatives announced in the last few years will play out. GE Healthcare has for a while been marketing the value of the GE Predix analytics platform, with an aim to connect and capture data from its vast installed base of imaging and clinical devices to help providers run more efficiently and develop next generation systems.
With Predix now shifting to an open source model, GE Healthcare will again likely become a customer of GE Predix, though it is still too early to establish what the cost to the Healthcare unit will be. Furthermore, the role of the horizontal, GE Digital, trumpeted as taking GE Healthcare into the new era of big data analytics and software, is far from clear.
Ultimately, clarity as to the overall future of the healthcare unit as a solo entity, has created a multitude of new questions and uncertainty for customers and employees. One thing is obvious though — a change of this scale is going to have an impact on the healthcare business in the short-term.
GE Healthcare is one of the global market leaders in medical imaging, clinical care and diagnostic IT, something that is too often overlooked.
However, maintaining this position in a hugely competitive market while extracting itself, will be no mean feat. Therefore, this does present a window of opportunity for its biggest competitors. In diagnostic IT, GE is also being challenged by not just the companies already mentioned, but other sizeable players such as IBM, Fujifilm, Agfa Healthcare, Change Healthcare, plus a raft of best-of breed specialist vendors.
All the while, the adoption of IT and digital technology continues to rapidly evolve the healthcare market, also enticing in technology giants such as Google, Amazon and Microsoft, as well as a growing volume of artificial intelligence start-ups.
Fighting on all these fronts, within a complex and nuanced global market that is constantly shifting and influenced by political, socioeconomic and technological change, is not an easy task for any major healthtech vendor.
Healthcare providers are increasingly consolidating into larger networks and transitioning towards multi-disciplinary, value-based care models. In many cases this is leading to longer replacement cycles and larger, less frequent deals. Business models are also changing, away from capital-heavy expenditure towards operational models. Thus, today it is critical for vendors to protect market share at a minimum, to ensure long-term revenue and growth opportunity.
For GE Healthcare, the next 12 to 18 months could be its toughest period for some time and some collateral damage should be expected.
As described already, the landscape of healthcare technology is changing. Healthcare provider networks are consolidating, and the market is in the early phases of transitioning to widespread use of big data and analytics. Focus on inter-disciplinary care, smarter care-coordination and value-based care are behind this, as part of the bid to limit the spiralling cost of care, while still maintaining quality.
In the Pirate Adventure, a visual transformation of the equipment that was available before, patients are on a dock. There is a shipwreck and some sand castles in the corner. Children then work on the plank to be scanned. The Coral City Adventure in the emergency room gives children an underwater experience. It has a disco ball that makes light like bubbles around the room; children get into a yellow submarine and listen to the sound of harps whilst the procedure takes place.
The Cozy Camp gives children the chance to be scanned in a specialized sleeping bag, under a starry sky in an impressive camp setting. Many children suffer from anxiety and are not able to stay still whilst the procedure is underway, making the process stressful and forcing scans to be redone.
The new child-friendly scanners make a big difference in how children react to being scanned; scanning time has been reduced and there is more room for more patients to be scanned sooner.
In addition, the company is actively exploring options to reduce its insurance exposure. The change is effective today. He joined the GE Board as an independent director earlier this year. I would like to thank him for his advice and stewardship through a period of significant change for GE. He has been especially helpful over the last year as we have conducted our review of the company and developed our plan to position GE for the future.
I appreciate his clarity, transparency and business-first philosophy, and I believe his leadership will be invaluable to GE as we enter our next chapter.
We will now move forward with purpose to make our company simpler and stronger and accelerate growth across our businesses. The call will begin today at 8: Eastern Time , the content of which is not part of this press release.
An archived version of the webcast will be available on the website after the call. This document contains "forward-looking statements" - that is, statements related to future, not past, events. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about plans to maintain the GE dividend; plans to separate GE Healthcare as a standalone company, including the timing and structure for that separation, the characteristics of the business to be separated and the expected benefits to GE; plans to divest our equity ownership position in Baker Hughes, a GE Company BHGE and the expected benefits to GE; debt repayment plans; the benefits of the new GE Operating System; divestiture proceeds expectations; GE and GE Capital liquidity; revenues; future corporate performance; and leverage targets.
For us, particular uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include: These or other uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
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