GE files IPO to spin out its health unit: 5 things to know

General Electric confidentially filed to take its healthcare unit public, progressing its plans to spin the company out into a separate entity, Bloomberg reports.

Here are five things to know:

1. GE revealed plans to spin off its healthcare business into a standalone enterprise in June, concluding a yearlong strategic review of the company's operations and financial strength.

2. The company is working with Goldman Sachs Group, Bank of America Corp., Citigroup, JPMorgan Chase and Morgan Stanley for the initial public offering. The filing is expected in the spring of 2019.

3. A GE representative declined to comment on the Bloomberg report, but shares of the company rose 2.9 percent in U.S. premarket trading Dec. 19.

4. "As we announced in June, as an independent global healthcare business, we will have greater flexibility to pursue future growth opportunities, react quickly to changes in the industry and invest in innovation," GE told the publication.

5. If GE takes its health unit public, it would be one of the largest in the world at an enterprise value — including debt — of $65 billion to $70 billion, Bloomberg Intelligence analyst Karen Ubelhart said in June.

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