BioPharma sale hits GE Healthcare Q4 revenues

By staff writers

January 26, 2021 -- GE Healthcare saw revenues fall for the fourth quarter and full year of 2021, largely due to the absence of contribution from the BioPharma business that the company sold in March 2020. The company's healthcare systems business was up 1% not counting BioPharma, however.

For the fourth quarter, GE Healthcare reported revenues of $4.823 billion, down 11% compared with revenues of $5.402 billion in the corresponding quarter of 2019. The healthcare division's segment profit was $949 million for the most recent quarter, compared with $1.138 billion in profit in the fourth quarter of 2019.

Fourth-quarter revenues were up 6% organically, not counting BioPharma, while orders of $4.983 billion were down 15% due to the disposition of BioPharma but were up 1% organically. The healthcare division saw strength in Europe and China, with the life sciences business enjoying strong sales of ventilators, while imaging and ultrasound volumes were strong.

For the year, GE Healthcare posted sales of $18.009 billion, down 10% compared with sales of $19.942 billion in 2019. The segment profit for 2020 was $3.06 billion, down 18% compared with $3.737 billion in 2019.

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