NEW YORK (TheStreet) -- General Electric (GE) is said to have started to reach out to potential buyers for its GE Capital Healthcare Financial Services Unit as part of its continuing effort to exit the financial services industry and focus on its industrial business.
The conglomerate's healthcare unit is valued between $10 billion and $11 billion, sources told The Wall Street Journal.
The business lends to healthcare companies that specialize in housing for seniors, medical device makers, hospitals, pharmaceuticals and other businesses.
GE is looking to get rid of most of its GE Capital business over the next year, The Journal noted, adding that the company has already agreed to sell a portfolio of real estate assets for $26.5 billion.
Earlier this week The Journal reported that GE has started the bidding process for a $40 billion portion of its U.S. commercial lending business. A deal could be announced as early as this week, the publication said.
Shares of GE are lower by 0.31% to $27.47 at the start of trading on Thursday morning.
Separately, TheStreet Ratings team rates GENERAL ELECTRIC CO as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate GENERAL ELECTRIC CO (GE) a HOLD. The primary factors that have impacted our rating are mixed-some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its expanding profit margins and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally higher debt management risk and disappointing return on equity."