Patient Care Solutions saw a YOY change of -13.3% and a net loss of 26 Million (EIBT). GE Healthcare is officially reviewing all strategic options
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GEHC closed on the purchase of Datex-Ohmeda 21 years ago. Since then, it has penny-pinched this once fun to work for, healthy, attractively profitable business into terminal illness. All the employees with critical institutional and domain knowledge fled the toxic culture. What is left is an anointed few who run around managing the talking head bean counters in order to keep their jobs. Now that the carcass is su-ked dry, time to sell it off.
My Opinion Only
The rumor I've heard recently from our leadership is that Pete is looking to sell off the entire PCS segment. From what I’ve heard the idea would be to use some of the software assets like MUSE, Perinatal, ReadySee, and Command Center, to make the whole division more attractive to a buyer. The hardware manufacturing side has been a big drag on margins with the high chip and factory costs, so this could be a way for GE to get that business off their books and shift those headaches to a new owner or private equity while focusing on AIS.
@fs Yes a lot of money. Has anyone heard how GE HC plans to deal with PCS. Will beatings continue until morale improves?
@f8 PCS legitimately lost money in Q2.
Be wary of "loss" numbers the talking heads put on PowerPoint presentations. They usually mean the business fell short if its goals, not that it actually lost money. There is a big difference.
As someone with inside knowledge, I can tell you that a herd of Waukesha cast offs stampeded through the place for over the last decade. These people were much better at the image game and protecting their position/salary than product development. I'm not a bit surprised of the sorry state of affairs.