Why GE Healthcare relocated its headquarters from the UK to Chicago
With a goal of moving closer to its largest market, GE Healthcare has relocated its headquarters from the UK to Chicago.
The United States remains the largest single market for GE Healthcare’s digital imaging, information technology and life sciences business. A large percentage of the company’s imaging business is located in nearby Milwaukee, while its IT business and life sciences business has offices in Chicago suburbs of Barrington and Arlington heights, respectively.
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GE Healthcare CEO John L. Flannery recently said he’s still unsure of exactly how many jobs would be coming to Chicago, but did reveal his senior executives were relocating to be closer to operations in Chicago and Milwaukee, while remaining near an international transportation hub.
“We’re excited to strengthen GE’s roots in Chicago, where we will continue our focus on being the leading provider of outcome-based solutions for the healthcare industry,” said Flannery in a statement. “Chicago has a rich industrial heritage, terrific international transportation links and is close to come of the world’s leading health care and academic institutions. It is also ideally located for many of GE Healthcare’s operations.”
GE Healthcare was originally founded in Chicago in the early 1900s as a manufacturer of X-ray equipment. The company then moved its headquarters to the London area after its acquisition of medical diagnostic and life science product company Amersham (now GE Healthcare) in 2004.
With approximately 51,000 employees worldwide, GE Healthcare had a total revenue of 18.3 billion in 2014. The company specializes in making medical equipment, which includes imaging, patient monitoring and diagnostic machinery.