GE 2014 Annual Report Download - page 64

44 GE 2014 FORM 10-K
MD&A SEGMENT OPERATIONS | HEALTHCARE
HEALTHCARE
BUSINESS OVERVIEW
Leader: John L. Flannery
Headquarters & Operations
x President & CEO, GE Healthcare
x Over 25 years of service with
General Electric
x 12% of segment revenues in 2014
x 17% of industrial segment revenues
x 17% of industrial segment profit
x Headquarters: Little Chalfont, UK
x Serving customers in 140+ countries
x Employees: approximately 51,000
Products & Services
Healthcare provides essential healthcare technologies to developed and emerging markets and has
expertise in medical imaging, software and information technology (IT), patient monitoring and diagnostics,
drug discovery, biopharmaceutical manufacturing technologies and performance improvement solutions.
Products and services are sold worldwide primarily to hospitals, medical facilities, pharmaceutical and
biotechnology companies, and to the life science research market.
x Healthcare Systems ± provides a wide range of technologies and services that include diagnostic imaging and clinical
systems. Diagnostic imaging systems such as X-ray, digital mammography, computed tomography (CT), magnetic
resonance (MR), interventional imaging and molecular imaging technologies allow clinicians to see inside the human body
more clearly. Clinical systems such as ultrasound, electrocardiography (ECG), bone densitometry, patient monitoring,
incubators and infant warmers, respiratory care, and anesthesia management that enable clinicians to provide better care
for patients every day - from wellness screening to advanced diagnostics to life-saving treatment. Healthcare systems
also offers product services that include remote diagnostic and repair services for medical equipment manufactured by
GE and by others.
x Life Sciences – delivers products and services for drug discovery, biopharmaceutical manufacturing and cellular
technologies, so scientists and specialists discover new ways to predict, diagnose and treat disease. It also researches,
manufactures and markets innovative imaging agents used during medical scanning procedures to highlight organs,
tissue and functions inside the human body, to aid physicians in the early detection, diagnosis and management of
disease through advanced in-vivo and in-vitro diagnostics.
x Healthcare IT – provides IT solutions including enterprise and departmental Information Technology products, Picture
Archiving System (PACS), Radiology Information System (RIS), Cardiovascular Information System (CVIS), revenue
cycle management and practice applications, to help customers streamline healthcare costs and improve the quality of
care.
Competition & Regulation
Healthcare competes with a variety of U.S. and non-U.S. manufacturers and services providers. Customers require products
and services that allow them to provide better access to healthcare, improve the affordability of care, and improve the quality
of patient outcomes. Technology innovation to provide products that improve these customer requirements and competitive
pricing are among the key factors affecting competition for these products and services. New technologies could make our
products and services obsolete unless we continue to develop new and improved products and services.
Our products are subject to regulation by numerous government agencies, including the U.S. Food and Drug Administration
(U.S. FDA), as well as various laws that apply to claims submitted under Medicare, Medicaid or other government funded
healthcare programs.