MedTech Dive January 25, 2022
Dive Brief:
- GE’s healthcare unit on Tuesday reported that fourth-quarter revenues of $4.6 billion decreased 4% organically due to ongoing industry-wide supply chain shortages. The company’s stock fell 7% on the news.
- Supply chain challenges in the fourth quarter impacted all of the conglomerate’s business units. However, GE CEO Larry Culp told investors Tuesday the effects were “most acute” in healthcare and are likely to last through at least the first half of 2022. Culp described the persistent supply chain problems as the worst in decades but said the company is confident in its countermeasures “including both price and cost actions across GE.”
- Meanwhile, GE Healthcare CEO Kieran Murphy was replaced earlier this month by Integra LifeSciences CEO Peter...
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