By Matt Grossman

 

Becton Dickinson & Co. is planning to spin off its diabetes-care business as an independent, publicly traded company.

The Franklin Lakes, N.J.-based medical-technology company said Thursday that the spinoff will take place in the first half of next year, and will be accomplished via a distribution of stock in the new company to Becton Dickinson shareholders.

The new company will be led by Devdatt Kurdikar as chief executive. Mr. Kurdikar is currently the world-wide president of Becton Dickinson's diabetes-care division.

Becton Dickinson Chairman and Chief Executive Officer Tom Polen said that the spinoff will allow Becton Dickinson to place a greater investment focus on other core businesses.

 

Write to Matt Grossman at matt.grossman@wsj.com

 

(END) Dow Jones Newswires

May 06, 2021 06:39 ET (10:39 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
Becton Dickinson (NYSE:BDX)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Becton Dickinson Charts.
Becton Dickinson (NYSE:BDX)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Becton Dickinson Charts.