General Electric has announced it is splitting into three public companies that will concentrate on aviation, healthcare, and energy. In a Nov. 9 press release (pdf), the company said it plans to spin off GE Aviation, GE Healthcare, and the combined GE Renewable Energy, GE Power, and GE Digital into three separate “industry-leading, investment-grade public companies” in order “to realize the full potential of each business.” The healthcare business is set to launch in early 2023, with GE taking a 19.9 percent stake in the tax-free spin-off. GE Renewable Energy, GE Power, and GE Digital will first be combined into a single entity and, in 2024, transformed into a tax-free spin-off, leaving GE to continue operations in the form of an “aviation-focused company shaping the future of flight.” GE Chairman and CEO H. Lawrence Culp, Jr. called the announcement a “defining moment” for the storied company. “By creating three industry-leading, global public …