The company didn’t break out details for its various healthcare units, but reported a 4% increase in profits on a 1.3% decrease in sales for the 3 months ended December 2013 and a 4.4% increase in profits on a 0.5% decrease in sales for the full year of 2013.
GE Healthcare posted profits of $1.06 billion on sales of $5.12 billion for its 4th quarter and profits of $3.05 billion on sales of $18.29 billion for 2013.
GE shares were down 2.7% to $26.46 as of about 3:45 p.m. EST today.
GE Healthcare Life Sciences division president & CEO Kieran Murphy didn’t linger long on the unit’s medtech divisions when speaking to an audience of healthcare analysts and investors at this week’s J.P. Morgan Healthcare conference in San Francisco. Murphy focused most on diagnostics, biopharmaceuticals and regenerative medicine.
Murphy spoke most enthusiastically on the company’s regenerative medicine prospects, calling the therapy "the next big phase for medicine." The healthcare giant is also investing in its KuBio project, building off-the-shelf biopharmaceutical manufacturing facilities that can be planted just about anywhere and get up and running in 14 to 18 months.