GE HealthCare announces $1B share repurchase program

GE HealthCare (GEHC) announced that its Board of Directors has authorized the repurchase of up to $1B of the company’s common stock. “We are pleased to announce that our Board has authorized a $1 billion share repurchase program. Since our spin-off, we’ve made significant progress strengthening our balance sheet through debt repayment, while also increasing organic and inorganic investment to grow our business,” said Jay Saccaro, Vice President and CFO. “Our capital allocation priority remains focused on investing in our business to accelerate growth, but we believe that a share repurchase program allows us to opportunistically return capital to shareholders and is a demonstration of our view of GE HealthCare’s strong long-term business prospects.”