GE Healthcare

GE plans to spin off its healthcare business into a separate public company as part of a broader restructuring, the conglomerate announced Tuesday. Targeted for early 2023, the transaction would create a freestanding diagnostics specialist. GE Healthcare had $18 billion in 2020 revenue and about 47,000 employees, according to a company presentation.

GE also intends to launch its energy business as a separate entity in 2024, leaving the original GE as an aviation-focused company.