Recent announcement of GE Healthcare’s Q3 results has indicated a decline in year-over-year revenue

Following GE Healthcare’s announcement of its third quarter 2021 results;

Kamilla Kan, Medical Device Analyst at GlobalData, a leading data and analytics company, offers her view:

“GE Healthcare’s recent revenue postings indicated a year-over-year revenue decline of -0.5%, with the posted sales of $18.4bn for the three months ended in September 30, 2021. While GE Healthcare is one of the leading companies in the healthcare industry, particularly in Healthcare IT, Patient Monitoring, clinical systems and diagnostic imaging, the company still faced a revenue decrease compared to previous quarters. The main reason for that was attributed to an industry-wide shortage of supplies and a global pandemic. While the third quarter results of 2021 are smaller than anticipated, with the recent acquisition of BK Medical and heavy investment in the Healthcare IT sector, GE Healthcare is expected to grow and generate bigger cash flow in the future.

“Furthermore, according to GlobalData’s job tracking database, GE Healthcare’s active job postings increased by 5.5% between September and October 2021. With the increased demand for non-COVID-related GE products, Healthcare Systems (HCS), Pharmaceutical Diagnostics (PDx), and a recent launch of an artificial intelligence virtual processing radiology solution, GE Healthcare is expected to grow further, leading to more hiring in the upcoming months.”

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