Becton Dickinson to Spin Off Diabetes-Care Business
May 06 2021 - 06:54AM
Dow Jones News
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)
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