GE - Top 10 Medical Device Companies
Company: GE Healthcare
Location: Fairfield, CT
CEO: Jeff Immelt (entire company), John Dineen (healthcare)
Sales: $16 billion
GE has a long and storied past. Thomas Edison established the Edison General Electric Company by bringing his various businesses together back in the last 1800s. But he had a rival in the Thomson-Houston Company, which was led by Charles Coffin. In 1892, the two companies combined. They called the new organization the General Electric Company.
Today GE is a giant in a number of sectors. In healthcare, GE's key areas include cardiology, neurology, emergency medicine, oncology and women's health. During the quarter that ended June 30, the medical equipment manufacturing unit of GE generated $4.1 billion in revenues during the quarter, a 3 percent increase over the previous year's second quarter, MassDevice reports. Segment profit jumped 12 percent to $661 million, compared with $590 million during Q2 2009.
The company is often making news. Last week, it unveiled the new "In India, for India" low cost IT solution--GE Centricity PACS Reach, a picture archiving and communication system aimed at affordably digitizing India's 15,000-plus small diagnostic centers and hospitals. And Geron announced that GE has launched the first human cellular assay product for use in drug discovery and toxicity screening developed under a license and alliance agreement between the two companies.