GE HealthCare Technologies (GEHC) FY2025 results: revenue $20.6 billion, up 4.8% on the year

GE HealthCare sells medical technology, pharmaceutical diagnostics and artificial intelligence, cloud and software products, earning from medical devices, consumables, service and software. It serves hospitals, health systems and researchers, public, private, academic and government, in over 160 countries, with approximately 9,700 sales professionals and 8,900 field service engineers and approximately 54,000 colleagues in total. It is a Delaware corporation with headquarters in Chicago, and General Electric, which now operates as GE Aerospace, completed the spin-off of the company on 3 January 2023. Results in the fourth quarter have historically been higher than in other quarters because of customer spending patterns. The business runs in four segments: Imaging, Advanced Visualization Solutions, Patient Care Solutions and Pharmaceutical Diagnostics.

Imaging

The segment holds five product lines with their service: molecular imaging, computed tomography, magnetic resonance, women's health and X-ray, supporting oncology, cardiology, neurology, nuclear medicine, orthopaedics, paediatrics and surgery. Molecular imaging shows functional processes at cellular and subcellular level, with a range from cyclotrons and chemistry synthesis through positron emission tomography, PET with computed tomography, single-photon emission computed tomography, PET with magnetic resonance and nuclear medicine. Computed tomography renders three-dimensional images of bone, soft tissue and air cavities with a rotating X-ray tube, used to find tumours, blocked blood vessels, abnormal heart conditions, complex fractures and internal injuries. Magnetic resonance produces detailed images of almost every internal structure without invasion and suits detection, diagnosis and treatment monitoring for stroke, cancer, trauma, aneurysm, multiple sclerosis and congenital disorders. Women's health products use X-ray to screen for breast cancer and bone and metabolic disease, with biopsy positioning systems and dual energy absorptiometry scanners, while the X-ray line covers fixed room radiography, mobile units for bedside imaging and fluoroscopy for moving images.

Advanced Visualization Solutions

The segment is organised by clinical speciality and covers two areas the company terms specialised ultrasound and procedural guidance. The filing states that specialised ultrasound splits into comprehensive care ultrasound and women's health ultrasound, and procedural guidance into cardiovascular and interventional products and surgical innovations. The filing states that comprehensive care ultrasound covers screening, diagnosis, monitoring and treatment across the whole body, including liver, thyroid, kidney, breast and vascular work, with point-of-care and handheld devices and tools for measurement quantification, workflow automation and scan guidance.

Patient Care Solutions

The segment covers monitoring and life support. Patient monitoring runs from spot-check to continuous, with multi-parameter monitors, central stations, wearable, mobile and transport monitors, cardiac telemetry and alarm distribution tools, and a meaningful part of it recurs through proprietary parameters and consumables. Diagnostic cardiology supplies resting and stress electrocardiogram devices and management software with interpretation algorithms, capturing and storing traces from hospital and home settings. Maternal infant care supplies neonatal incubators, infant warmers, resuscitation devices, phototherapy equipment, fetal monitors and heart rate surveillance software for labour, delivery and neonatal intensive care, and the anaesthesia line supplies ventilation technology.

Pharmaceutical Diagnostics

The segment supplies contrast and radiopharmaceutical imaging agents to radiology and nuclear medicine, complementing the group's own scanners and working with other vendors' systems. Contrast media are given during scans to raise the visibility of tissues or structures, which matters for small areas such as cancer lesions and for planning angioplasties, biopsies or radiation therapy; the line spans computed tomography, angiography and X-ray, magnetic resonance and ultrasound, with injection devices supplied through third-party manufacturers. Radiopharmaceuticals are molecular tracers labelled with radioisotopes, injected before a scan, that gather at the site of interest and emit energy a scanner detects, supporting diagnosis and therapy selection in neurology, cardiology and oncology and used by drug companies to select trial populations. The filing notes that this is a strictly regulated industry where shortages or delays can disrupt workflows and cancel exams.

Research, selling and supply

Research and development employs approximately 11,100 engineers and scientists worldwide, in hardware, systems and software engineering and clinical research, with work sponsored through collaborations with academic institutions and medical centres. Selling runs through a multi-channel model of the sales force plus a network of over 5,000 indirect third-party partners, with equipment representatives working alongside service sales on maintenance agreements, upgrades and software subscriptions. Manufacturing, assembly and pharmaceutical production sit in 44 facilities across 17 countries, managed globally but serving specific regions, with buffer capacity and diversified sourcing behind the supply chain. The company states that its patents and other intellectual property are vital in aggregate, but that no single asset or group of assets is of material importance to any segment or to the business as a whole.

From GE HealthCare's annual report on Form 10-K for the year ended 31 December 2025. The filing

Written from the 10-K filed 4 February 2026: read the full 10-K.