GE HealthCare said that it has completed the previously announced spinoff from General Electrics (GE) and begun trading as an independent company on the Nasdaq exchange under the ticker symbol "GEHC" from Wednesday.

The spinoff of GE Healthcare follows GE's decision to split the company into three sectors --healthcare (GE Healthcare), aviation (GE Aerospace), and energy (GE Vernova) in November of last year.

GE HealthCare launches with a presence in more than 160 countries and approximately 51,000 employees worldwide, serving more than one billion patients a year.

The company invests more than $1 billion in R&D annually and generates approximately $18 billion in revenue, with an installed base including more than 4 million pieces of equipment across its four business segments -- imaging, ultrasound, patient care solutions, and pharmaceutical diagnostics.

"Today is an incredibly exciting day for GE HealthCare as we become an independent company and start a new chapter advancing our position as a global leader in precision care," GE Healthcare President and CEO Peter Arduini said. "We are on the verge of true industry transformation as digital innovation reshapes the experience of patients and providers with an increased need for more precise, connected, and efficient care."

GE HealthCare colleagues worldwide are united in its purpose to create a world where healthcare has no limits, and we look forward to delivering for providers, patients, and shareholders in the years ahead, Arduini added.

GE expects its addressable markets to expand from $84 billion in 2021 to $102 billion by 2025.

"The expansion provides significant opportunities for growth and execution of the company's precision care strategy to safely and securely integrate patient data from imaging, lab, pathology, genomics, and other sources," the company said. "Precision care will then layers those data with artificial intelligence, using the Company's Edison platform and digital apps."

The precision care strategy enables insights that help clinicians diagnose diseases and determine the most appropriate treatment – delivering the best possible outcome for the patient, it added.

However, the spinoff will have minimal impact in Korea.

"GE Healthcare Korea has been a standalone company from the beginning of its establishment," a company spokesperson told Korea Biomedical Review. "Therefore, the Korean offshoot will not undergo drastic changes."

Meanwhile, GE Healthcare's share price surged about 8 percent on the first trading day on the Nasdaq market. Industry watchers said the rise in share price reflected the company being included in the S&P 500 index at the same time as listing, resulting in high expectations for the inflow of index-tracking funds.