WASHINGTON (dpa-AFX) - Becton, Dickinson and Company (BDX) said its board has unanimously authorized management to proceed with a plan to spin off the Diabetes Care business as an independent, publicly traded company. BD expects the spinoff to be accomplished through a distribution of stock in new company to BD shareholders. Devdatt Kurdikar, currently worldwide president of BD Diabetes Care, will be chief executive officer of the new company.
The Diabetes Care business is the leading producer of diabetes injection devices, producing approximately 8 billion injection devices annually and serving about 30 million patients.
Following the spinoff, BD will maintain category leadership positions across its portfolio in the BD Medical, BD Life Sciences and BD Interventional segments.
Copyright RTT News/dpa-AFX
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