GE (NYSE:GE) announced Tuesday the completion of the sale of its BioPharma business to Danaher Corporation (NYSE: DHR) (“Danaher”) for approximately $20 billion of net proceeds. GE Chairman and CEO H. Lawrence Culp, Jr., said, “Completing the sale of BioPharma represents a critical milestone on our multi-year transformation, fortifying our considerable sources to de-risk our balance sheet and continue to solidify our financial position. I am proud of the teams for completing this transaction amidst a great deal of global change. As we go forward, GE retains one of the world’s leading healthcare companies, using our global scale and technical leadership to deliver better outcomes and more capacity to a world striving for Precision Health.”
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Source: https://www.businesswire.com/news/home/20200331005874/en/GE-Announces-Completion-BioPharma-Sale-Danaher-Receives