SAN DIEGO, March 31 /PRNewswire-FirstCall/ -- CareFusion Corporation, the company that is expected to become public from the spinoff of Cardinal Health's clinical and medical products businesses, today filed a Form 10 registration statement with the Securities and Exchange Commission (SEC) that contains detailed information about the company as a standalone entity.
The Form 10 filing outlines Cardinal Health's plan to spin off at least 80 percent of the outstanding common stock of CareFusion through a pro rata distribution to Cardinal Health's shareholders, with Cardinal Health retaining the remaining shares. Cardinal Health will divest its shares of CareFusion within five years after the spinoff. This proposed spinoff structure is intended to address the volatility in credit market conditions and provide additional flexibility in the capital structures of Cardinal Health and CareFusion.
Also included in the Form 10 are historical financial statements for CareFusion for fiscal years 2006-2008, a management discussion and analysis of results of operations, a list of its executive officers and other customary legal and financial disclosures for the new company. Additional information, including CareFusion pro forma financial statements, will be provided in future filings.
"The Form 10 marks a major milestone on the road to launch CareFusion as a public company focused on the safety and quality of care," said David Schlotterbeck, Cardinal Health vice chairman and future chief executive officer of CareFusion. "While we continue to target the summer of 2009 to complete the spinoff, some of the conditions to completing the spin are not within our direct control, which may push the spinoff to later in the year. As we work to complete the spinoff, we remain very focused on serving CareFusion's global customers and managing our near- and long-term business objectives."
The completion and timing of
|SOURCE Cardinal Health, Inc.|
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