GE Healthcare Commits $300 Mln to Create New Business Unit

GE Healthcare, the healthcare technology division of GE (GE), said it has created a new business unit, Sustainable Healthcare Solutions, that will develop high-value, low-cost technologies and healthcare delivery solutions across multiple care settings.

The new organization will invest $300 million as part of a multi-phase effort to develop a more robust affordable healthcare portfolio for customers. The unit will combine GE Healthcare’s operations in India, South Asia, Africa and Southeast Asia.

Sustainable Healthcare Solutions will serve Bangladesh, Bhutan, Brunei, Cambodia, India, Indonesia, Laos, Malaysia, Maldives, Myanmar, Nepal, Philippines, Singapore, Sri Lanka, Thailand, and Vietnam, as well as 54 countries in Africa.

GE shares are down 0.4% at $25.02, with a 52-week range of $19.37 – $28.68.

Price: 25.02 Price Change: -0.09 Percent Change: -0.36