GE HealthCare Technologies Inc (GEHC)

From a GE Division to a Standalone Global Healthcare Company

GE HealthCare Technologies (GEHC) is not a new business in the true sense. It was born on January 3, 2023, when General Electric (GE) completed the separation of its healthcare business into a standalone company listed on NASDAQ. The separation was structured as a tax-free spin-off, with GE distributing approximately 80.1% of GEHC shares pro-rata to existing GE shareholders while retaining roughly 19.9% itself. That means GEHC did not start as a startup, but as a mature business already operating in more than 160 countries, with roughly 51,000 employees and an installed base of more than 4 million pieces of equipment powering care for more than 1 billion patients a year.

The single most important thing to understand right now is that GEHC just completed a business segment restructuring in April 2026, moving from 4 original segments (Imaging, Ultrasound, Patient Care Solutions, Pharmaceutical Diagnostics) down to 3:

• AIS (Advanced Imaging Solutions) - a newly combined segment merging the former Imaging and Advanced Visualization Solutions (AVS) units. This is the largest segment and the core of GEHC's AI plus hardware narrative.
• PCS (Patient Care Solutions) - patient monitoring, diagnostic cardiology, and maternal-infant care.
• PDx (Pharmaceutical Diagnostics) - contrast media and radiopharmaceuticals, including the newer Flyrcado product.

Why does the Imaging plus AVS merger matter to you as an investor? It signals that GEHC no longer treats imaging hardware (CT and MRI machines) and visualization/AI software as two separate businesses. Instead, both are combined into a single growth engine. This lines up with GEHC's bigger strategy of monetizing AI as recurring software and service revenue layered on top of a hardware base already installed in thousands of hospitals worldwide.

Leadership

Peter Arduini has led GEHC as President and CEO since December 2022. He brings a strong track record from Integra LifeSciences, where he served as CEO from 2012 to 2021 and successfully turned that company's portfolio into a faster growing, more profitable business through a series of strategic acquisitions. A similar pattern appears to be playing out at GEHC today.

Shariah Compliance Status

According to the Zoya reference database (zoya_us_stock_reference), GEHC is confirmed SHARIAH COMPLIANT. This means GEHC's core business, medical equipment, diagnostics, and healthcare services, does not involve activities that conflict with Shariah principles such as interest-based lending, gambling, or prohibited products.

Key Corporate Actions

Since separating from GE, GEHC has actively used M&A to build a software and AI layer on top of its existing hardware base:

• Intelerad ($2.3 billion, closed March 2026) - enterprise medical imaging IT/PACS software, deepening the software and AI monetization angle.
• Nihon Medi-Physics (NMP) (2025) - radiopharmaceutical distribution in Japan, supporting the Flyrcado rollout.
• MIM Software + Intelligent Ultrasound (2024) - AI image analysis and real-time recognition technology.

The pattern is clear: GEHC is not simply buying additional hardware, it is building a software and AI ecosystem that sits on top of a hardware base already present in thousands of hospitals around the world.

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