Cardinal Health said it will spin off its clinical and medical products businesses as a separate public company but will retain its radiopharmaceutical unit.
The spin-off is expected to be completed by the middle of 2009, and the new company will be led by current vice chairman David Schlotterbeck, according to the Dublin, OH-based vendor. Current chairman and CEO Kerry Clark will continue to lead Cardinal Health through the spin-off and then retire, to be succeeded by George Barrett, vice chairman and CEO of Cardinal's Healthcare Supply Chain Services unit.
Cardinal Health will retain the company's radiopharmaceutical business.
Related Reading
Cardinal posts revenue gains, considers spin-off, August 12, 2008
Cardinal Health reorganizes, announces layoffs, July 8, 2008
Cardinal Health adds radiopharmacies, June 16, 2008
Cardinal to sell UltraSPECT packages, April 2, 2008
Cardinal Health, GE team for Myoview, March 19, 2008
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