GEs health care unit healthy
Segment sees 8% profit growth after a tough first quarter

By GM Today Staff 

July 12, 2008


WAUKESHA - GEs health care business, whose medical imaging business is based in Waukesha, showed a financial improvement in the second quarter, according to an earnings report the Fairfield, Conn.-based company released Friday.

The health care segment saw 8 percent profit growth over 2007, after experiencing a 17 percent year-over-year profit decline in the first quarter.

The division earned $747 million of profit on $4.49 billion in revenue for the second quarter.

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In a statement, GE CEO Jeff Immelt said the health care unit benefited from "strong global equipment and services growth," as well as the resumed delivery of certain surgical devices after the company came into compliance with a consent decree from the Food and Drug Administration.

Immelt said the U.S. diagnostic imaging market "is still challenged, but it is improving."

(The Associated Press contributed to this report.)

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This story appeared in The Freeman on July 12, 2008.