GE HealthCare Tech Inc. Prices 13M Share Secondary Offering

GE HealthCare Tech Inc. Prices 13M Share Secondary Offering

GE HealthCare Technologies Inc. (Nasdaq: GEHC) announced the pricing of its previously announced secondary underwritten public offering (the “Offering”) of 13,000,000 shares of its common stock (the “GEHC Shares”) at a public offering price of $82.25 per share ($80.605 per share, net of underwriting discount). GE HealthCare is not selling any shares of common stock and will not receive any proceeds from the sale of the GEHC Shares in the Offering or from the debt-for-equity exchange (as described below).

Before the Offering’s closing, General Electric Company (“GE”) is expected to exchange the GEHC Shares for indebtedness of GE held by Morgan Stanley Senior Funding, Inc. and Morgan Stanley Bank, N.A. Following the debt-for-equity exchange, if consummated, Morgan Stanley & Co. LLC, as the selling stockholder in the Offering, intends to sell the GEHC Shares to the underwriters in the Offering. The selling stockholder in the Offering has granted the underwriters an option to purchase additional shares of GE HealthCare common stock at the public offering price less the underwriting discount for 30 days.

Morgan Stanley, BofA Securities, Citigroup, Evercore ISI, Goldman Sachs & Co. LLC, and J.P. Morgan are serving as the lead joint book-running managers for the Offering. BNP PARIBAS, Credit Agricole CIB, HSBC, SMBC Nikko, and SOCIETE GENERALE are also serving as joint book-running managers for the Offering. The Offering is expected to close on February 21, 2024, subject to customary closing conditions.

The Offering is being made pursuant to a shelf registration statement (including a prospectus) on Form S-3 with the U.S. Securities and Exchange Commission (the “SEC”) for the Offering to which this communication relates, which registration statement became effective upon filing. A final prospectus supplement and accompanying prospectus describing the terms of the Offering will be filed with the SEC.

This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About GE HealthCare

GE HealthCare is a leading global medical technology, pharmaceutical diagnostics, and digital solutions innovator, dedicated to providing integrated solutions, services, and data analytics to make hospitals more efficient, clinicians more effective, therapies more precise, and patients healthier and happier. Serving patients and providers for more than 100 years, GE HealthCare is advancing personalized, connected, and compassionate care, while simplifying the patient’s journey across the care pathway. Together, our Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics businesses help improve patient care from diagnosis to therapy to monitoring. We are a $19.6 billion business with 51,000 colleagues working to create a world where healthcare has no limits.

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