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CareFusion Medical Device Company Intelligence Report
Espicom Business Intelligence Ltd, Feb 2010, Pages: 38
CareFusion, formerly the Clinical and Medical Products division of Cardinal Health, serves the healthcare industry with products and services designed to help hospitals improve the safety and quality of care. The company offers product lines in the areas of intravenous (IV) infusion, medication and supply dispensing, respiratory care, infection prevention and surgical instruments.
CareFusion’s separation from Cardinal Health was completed on 31st August 2009. In connection with the spin-off, CareFusion distributed a cash dividend in the amount of US$1,374 million to Cardinal Health, and Cardinal Health contributed the majority of the businesses comprising its Clinical and Medical Products segment to CareFusion and distributed approximately 81% of the company’s outstanding common stock to its shareholders. Cardinal Health retained approximately 19% of CareFusion’s outstanding common stock. As a condition to the separation, Cardinal Health is required to dispose of the remaining 19% of CareFusion’s common stock within five years of the distribution date.
Certain lines of business that manufacture and sell surgical and exam gloves, drapes and apparel and fluid management products in the US market, that were historically managed by CareFusion prior to the spin-off and were part of the Clinical and Medical Products business of Cardinal Health, were retained by Cardinal Health. CareFusion has an agreement with Cardinal Health to distribute these products in international markets.
CareFusion employs more than 15,000 people across its global operations. The company sells its products in more than 120 countries worldwide and in the fiscal year ended 30th June 2009, generated sales of US$4,501 million.
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