GE HealthCare (GEHC) Q4 2025 Earnings Transcript

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Wednesday, February 4, 2026 astatine 8:30 a.m. ET

• President and Chief Executive Officer — Peter Arduini

• Chief Financial Officer — Jay Saccaro

Peter Arduini: Thanks, Carolynne. Good morning, and convey you for joining us. As I look backmost connected our show successful 2025, our 3rd twelvemonth arsenic a nationalist company, I'm incredibly arrogant of the meaningful advancement that we're making connected our innovation renaissance to present for our customers and amended diligent lives. In the 4th quarter, we delivered beardown fiscal show supra our expectations. This included double-digit integrated gross maturation successful pharmaceutical diagnostics and mid-single-digit maturation successful imaging and precocious visualization solutions. We delivered beardown bottom-line and currency show successful the 4th quarter, excluding tariffs. The wide superior instrumentality situation remained healthy. Demand successful the US and EMEA remained strong.

In our caller US lawsuit survey, we saw an summation successful the fig of ample customers that program to put successful superior instrumentality successful 2026. We secured aggregate ample agreements successful the 4th and extended respective others. A large illustration is our seven-year statement with the University of Rochester Medical Center to beforehand diagnostics and precision medicine. This collaboration crosses each facet of our enterprise. From AI-enabled imaging instrumentality and radiopharmaceutical accumulation to system-wide diligent monitoring solutions and services. In November, we announced the planned acquisition of IntelliRed. We expect this volition accelerate our afloat connected cloud-first imaging ecosystem by adding integer tools and SaaS offerings that heighten objective operations, thrust recurring revenue, and alteration much personalized diligent care.

As a reminder, successful the archetypal afloat twelvemonth of ownership, we expect IntelliRed revenues to beryllium astir $270 million, which is increasing successful the debased treble digits, with an adjusted EBITDA successful excess of 30%. Finally, we precocious Heartbeat, our proprietary concern system, which we implemented midyear arsenic the adjacent measurement successful our thin travel we started a fewer years back. And I'll speech much astir this shortly. Moving to 2025 highlights connected descent four. We made meaningful advancement crossed the 3 pillars of our strategical framework. Let's commencement with precision care. With diseases becoming much prevalent, complex, and chronic, the request for integrated solutions has ne'er been greater.

As the lone diagnostic imaging institution with a afloat portfolio of opposition media and radiopharmaceuticals, we differentiate ourselves with our D3 strategy. We bring unneurotic astute devices and drugs crossed illness states enabled by integer AI and unreality to assistance enactment earlier, much close diagnosis and yet therapy delivery. Our three-year vitality complaint for caller products is beardown astatine 55%, up astir 5% from our anterior year. Recall, this means 55% of our gross is coming from caller products. This reinforces that we're delivering the close offerings for our customers. We're making coagulated advancement connected our launches. For example, our Omni Total Body Pet and NexGen spec are commercially disposable successful Europe, strengthening our presumption successful diagnostics.