By Denny Jacob

GE HealthCare Technologies Inc. shares rose 5.1%, to $58.85, in its first day of trading following General Electric Co.'s completed separation of its healthcare business.

The industrial giant, which said it planned to break up into three companies in the fall of 2021, will retain about 20% in GE HealthCare, which trades under the ticker GEHC. General Electric will spin off its energy segment in early 2024, leaving it to focus on its aviation business.

GE HealthCare has a presence in more than 160 countries and about 51,000 employees worldwide, the company said. It expects its addressable markets to expand to $102 billion by 2025 from $84 billion in 2021.

Shares of General Electric also rose about 4%, to $69. The stock is down about 11% over the last 12 months.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

January 04, 2023 13:52 ET (18:52 GMT)

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