General Electric (GE) has reported that its healthcare unit saw a 5 percent increase in revenues and a double-digit increase in earnings in the first quarter of 2012, compared with the first quarter of 2011.
GE Healthcare has reported a 1 percent increase in fourth quarter revenues to $5.16 billion, and a slight drop—5 percent—in quarter profits to $953 million. However, the yearly revenue in 2011 rose 7 percent in 2011 over 2010—$18.08 billion versus $16.9 billion. Likewise, the healthcare unit’s yearly profits rose 2 percent from $2.74 billion in 2010 to $2.8 billion in 2011.
GE, along with its healthcare and financial partners, has launched a healthymagination initiative aimed at accelerating cancer innovation and improving care for 10 million cancer patients globally by 2020.
Concord Medical Services and GE Healthcare have signed a memorandum of understating (MOU) to form a preferred strategic partnership in China.
While corporate General Electric announced an increase in 2011 second quarter operating earnings from continuing operations of $3.7 billion, up 18 percent from the second quarter of 2010, the revenues were $35.6 billion for the quarter, down 4 percent from a year ago. However, GE Healthcare’s segment revenues increased 10 percent.
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