General Electric has filed paperwork for an IPO of its health-care unit, GE Healthcare, according to people familiar with the matter.
GE is working with JPMorgan Chase on an initial public offering that would likely come mid-2019, someone familiar with the plans told CNBC. Goldman Sachs, Bank of America, Citigroup and Morgan Stanley are also working with GE, according to Bloomberg News. The new public company would rank among the largest in the world.
GE's stock jumped more than 8 percent on the news.
GE Healthcare, a dominant player in hospital and lab equipment, generated roughly $19 billion in revenue and $3.4 billion in profit last year. It accounted for 15.8 percent of the conglomerate's total sales, and 43.2 percent of its operating profit in 2017.