MedTech Dive October 26, 2021
Dive Brief:
- GE’s healthcare unit on Tuesday reported that third-quarter revenues of $4.3 billion decreased 6% organically due to ongoing industry-wide supply chain shortages.
- The supply chain hit to the conglomerate’s healthcare division was the biggest of any business unit, GE executives told investors on Tuesday’s earnings call, adding they expect disruptions to last through at least the first half of 2022.
- GE CEO Larry Culp described the company’s supply chain challenges as the worst of the CEO’s career and said the healthcare unit will continue to proactively manage sourcing and logistics. “It really is akin to playing Whac-A-Mole,” Culp remarked. The supply chain issues come as GE Healthcare CEO Kieran Murphy is set to be replaced at...
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