- GE HealthCare Technologies missed first-quarter revenue estimates on Tuesday, hurt by lower sales in China market and weaker-than-expected demand for its scanning devices, sending its shares tumbling as much as 12% before the bell.
The company, at an investor conference last month, had said it expects a sales decline in China during the first half of the year. It expects to see growth in the second half with the end of the Chinese government's anti-corruption campaign that began last year.The company is also facing pressure from the Chinese government's volume-based procurement, under which the country buys drugs and medical devices in bulk at a sharp discount.
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