Benzinga | May 6, 2021 06:45AM EDT

BD Announces Intent to Spin Off Diabetes Care Business to Enhance Focus on Innovation and Priority Growth Markets

Standalone Diabetes Care business expected to leverage position as global leader in insulin delivery and expand presence in large and high-growth diabetes market

- Spinoff allows both BD and NewCo to enhance each company's focus on meeting the needs of their respective patients, customers and stakeholders.

- BD management expects the transaction to strengthen its mid-single-digit revenue growth and double-digit total return growth profile.

- Transaction expected to be completed in first half of calendar year 2022.

- Management will provide further details during the company's announced fiscal second quarter results call today at 8 a.m. Eastern Time.