Sector: Healthcare|Industry: Health Information Services|Market Cap: $35.22B|Employees: 51K
GE HealthCare Technologies Inc. is a global medical technology, pharmaceutical diagnostics, and digital solutions innovator. The company operates at the center of the healthcare ecosystem, providing medical devices, consumable products, service capabilities, and digital solutions. They have a strong market position and competitive advantages due to their broad service capabilities, dedication to quality, and a strong operational culture. GE HealthCare serves customers in approximately 160 countries with a global team and a network of manufacturing sites.
Total revenues were $4.839 billion, flat compared to the prior year, with a 1% organic growth. Sales of services increased by 2%, while sales of products decreased by 1%.
Gross profit increased to $2.002 billion, up from $1.940 billion in the prior year, driven primarily by a reduction in cost of products sold and increased pricing of services.
Net income attributable to GE HealthCare was $428 million, compared to $418 million in the prior year, primarily due to the increase in operating income.