Cardinal Health spin-off CareFusion starts trading on NYSE

21 September 2009

CareFusion Corp. (NYSE:CFN), a spin off from Cardinal Health, was launched as an independent, publicly traded company earlier this month.

CareFusion products and services include recognized brands in health care, including Pyxis automated dispensing systems, Alaris IV pumps, ChloraPrep for the reduction of surgical-site and catheter-related infections and V. Mueller surgical instruments.

CareFusion started trading on the New York Stock Exchange and will be included in the S&P 500 index. The CareFusion board of directors named David Schlotterbeck, 62, as chairman in addition to his existing CEO role, and Michael Losh, 63, as presiding director.

After the close of business on 31 August, Cardinal Health distributed to its shareholders 0.5 shares of CareFusion common stock for each outstanding Cardinal Health common share held as of market close on Aug. 25. In addition, Cardinal Health retained approximately 41 million shares, which pursuant to the IRS private letter ruling for the spinoff, it is required to divest within five years. Including shares held by Cardinal Health, there are approximately 222 million shares of CareFusion common stock outstanding following the spinoff.

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