By Reuters
Copyright reuters
Sept 18 (Reuters) – Medical device maker GE Healthcare (GEHC.O), opens new tab is working with advisers to explore options including the sale of a stake in its China unit, Bloomberg News reported on Thursday, citing people familiar with the matter.
A potential transaction may value the assets at several billion dollars, the report said, adding that the considerations are preliminary and no final decisions have been made.
A spokesperson for GE HealthCare said the company does not respond to market rumors, but added that it remains comitted to supporting patients in China, which is one of the largest healthcare markets globally.
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Political tensions, fierce domestic competition and China’s slowing economic growth are eroding the confidence of U.S. companies operating in the Asian country. The companies’ optimism about their five-year China business outlook fell to a record low of 41%, according to a survey published last week by the American Chamber of Commerce in Shanghai.
GE Healthcare has faced challenges in China due to weakened sales and tariff impacts, with revenue from the region declining by about 15% in 2024.
In July, the company’s chief financial officer said GE will continue to work with its suppliers to move capacity to more tariff-friendly geographies.
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The company’s shares were up 1.4% in premarket trading.
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Reporting by Padmanabhan Ananthan in Bengaluru; Editing by Sahal Muhammed
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