General Electric Company (GE) was an American multinational conglomerate founded in 1892, and incorporated in New York state and headquartered in Boston. Healthcare was spun-off on January 4, 2023 as GE Healthcare. The company operated in sectors including healthcare, aviation, power, renewable energy, digital industry, additive manufacturing and venture capital and finance,[2][3][self-published source] but has since divested from several areas, now primarily consisting of the second, third and fourth segments.[4]
In 2020, GE ranked among the Fortune 500 as the 33rd largest firm in the United States by gross revenue.[5] In 2011, GE ranked among the Fortune 20 as the 14th most profitable company, but later very severely underperformed the market (by about 75%) as its profitability collapsed.[6][7][8] Two employees of GE – Irving Langmuir (1932) and Ivar Giaever (1973) – have been awarded the Nobel Prize.[9]
On November 9, 2021, the company announced it would divide itself into three investment-grade public companies. On July 18, 2022, GE unveiled the brand names of the companies it will create through its planned separation: GE Aerospace, GE HealthCare and GE Vernova.[10][11] The new companies will be focused on aerospace, healthcare, and energy (renewable energy, power, and digital). The first spin-off of GE HealthCare is planned for the first week of January 2023,[12] to be followed by the spin-off of GE's portfolio of energy businesses which plan to become GE Vernova in 2024.[13] Following these transactions, GE will be an aviation-focused company, renaming itself as GE Aerospace, and will be the legal successor of the original GE.[14][15][16]
