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GE completes spin-off of healthcare business

origin 1A general view of the General Electric group logo on a truck on Strasse des 17.Juni in Berlin. Tim Brakemeier/dpa

General Electric (GE) announced Wednesday that it has completed the separation of its healthcare business, launching GE HealthCare Technologies Inc.

GE HealthCare will trade on the Nasdaq under the ticker symbol GEHC.

Holders of GE common stock received one share of GE HealthCare common stock for every three GE common shares held.

The distribution was part of a tax-free spin-off, resulting in tax efficiency for GE shareholders in the United States.

GE owns approximately 19.9% ​​of GE HealthCare common stock.

GE Chairman and Chief Executive Officer Lawrence Culp Jr. will serve as non-executive chairman of GE HealthCare.