DUBLIN, Ohio — Cardinal Health will name its new spinoff medical technology company CareFusion, the company announced today.
Cardinal, based in Dublin, will create the San Diego-based company through the spinoff of its clinical and medical product businesses. CareFusion’s focus will include medication safety and infection prevention products.
It would trade on the stock exchange as CFN. Cardinal Health expects the spinoff process to be finished by mid-2009.
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“”Not only will CareFusion be an immediate market leader in medication safety and infection prevention, we will put a substantial emphasis on innovation and clinical differentiation to continue to serve this growing segment of the global health care industry,” stated David Schlotterbeck, Cardinal Health vice chairman who will become the chief executive officer of CareFusion.
CareFusion would generate about $4 billion in annual revenue, employee more than 13,000 people and produce Cardinal products including Alaris IV pumps, Pyxis automated dispensing systems and ChloraPrep skin preparation products.
Cardinal owned the CareFusion trademark after acquiring Care Fusion Inc. in 2006. Products currently using the CareFusion brand will be switched to the Pyxis brand, Cardinal Health stated.
Cardinal executives said the charges related to the new spinoff caused its dip in second-quarter earnings.
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