GE's BioPharma sale may delay healthcare IPO

By staff writers

February 25, 2019 -- GE's decision to sell its BioPharma business to Danaher may delay plans to spin off its GE Healthcare division this year, according to a February 25 CNBC interview with CEO Larry Culp.

An initial public offering (IPO) of the division is now in doubt, and GE is looking at options for GE Healthcare now that it will be without its biopharmaceutical business, according to the CNBC report.

"We are focused on completing the carve out [of the BioPharma business] -- which is 15% of the $20 billion healthcare segment -- and focused on managing the remaining core business," Culp told CNBC's Morgan Brennan. "An IPO [for GE Healthcare] in 2019 looks unlikely at this point."

GE made a confidential filing for the IPO in December 2018.

Copyright © 2019

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