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An examination with a CT scanner is prepared in the emergency room of the university hospital (UKJ) in Jena, Germany. The GE Healthcare scanner is called the Revolution CT.
General Electric is reevaluating plans for an IPO for its health-care unit following the sale of its biopharma business, CEO Larry Culp told CNBC on Monday.
An IPO for GE Healthcare this year is now in doubt, Culp said. Earlier reports incorrectly suggested the plans were off the table. Culp said GE is looking at the full spectrum of options for GE Healthcare, now that it will be without its biopharma business.
“We are focused on completing the carve out [of the biopharma business] – which is 15 percent of the $20 billion healthcare segment – and focused on managing the remaining core business,” GE Chairman and CEO Larry Culp told CNBC’s Morgan Brennan.
“An IPO [for GE Healthcare] in 2019 looks unlikely at this point,” Culp added.
GE filed confidential paperwork for an IPO of GE Healthcare in December.
The unit is a dominant player in hospital and lab equipment, generating roughly $19 billion in revenue and $3.4 billion in profit last year. It accounted for 15.8 percent of the conglomerate’s total sales, and 43.2 percent of its operating profit in 2017.