Summary
Becton, Dickinson and Company (BD) announced on July 12, 2021, that two of its current board members, David F. Melcher and Claire Pomeroy, MD, MBA, will join the board of directors of the new, independent, publicly traded company being formed from the separation of BD's Diabetes Care business. This move is a step towards the previously announced spinoff of the Diabetes Care segment, which is anticipated to be completed in the first half of calendar year 2022. Investors should note that these appointments are contingent upon the completion of the spinoff, final board approval, and the effectiveness of a Form 10 registration statement with the SEC. This announcement signals progress in BD's strategic plan to establish an independent entity for its Diabetes Care business, which will likely have its own leadership and governance structure as it prepares for public trading.
Key Highlights
- 1Two current BD board members, David F. Melcher and Claire Pomeroy, MD, MBA, are appointed to the board of the new independent company created from the Diabetes Care business spinoff.
- 2The appointments are effective upon the completion of the Diabetes Care business spinoff.
- 3The spinoff of the Diabetes Care business is expected to be completed in the first half of calendar year 2022.
- 4The spinoff is subject to customary conditions, including final BD board approval and the effectiveness of a Form 10 registration statement.
- 5This filing relates to the ongoing strategic separation of BD's Diabetes Care business into a standalone entity.
- 6The company mentioned in the filing is referred to as 'NewCo' and will be publicly traded.