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CareFusion Files Amended Form 10 Registration Statement With SEC
Date:7/7/2009

SAN DIEGO, July 7 /PRNewswire-FirstCall/ -- CareFusion Corporation, the company that will become public from the planned spinoff of Cardinal Health's clinical and medical products businesses, today filed a fourth amendment to its Form 10 Registration Statement with the Securities and Exchange Commission (SEC), where it announced the receipt of the private letter ruling from the Internal Revenue Service (IRS) and an adjusted distribution ratio for the planned spinoff.

Cardinal Health has received a private letter ruling from the IRS that the planned contribution by Cardinal Health of the assets of the clinical and medical products businesses to CareFusion and the planned distribution of CareFusion common stock to Cardinal Health shareholders will qualify as a transaction that is generally tax-free for U.S. federal income tax purposes.

As part of the filing, the company also disclosed a new distribution ratio for the planned spinoff of 0.5 share of CareFusion common stock for each common share of Cardinal Health held at the record date. Based on approximately 360 million Cardinal Health common shares outstanding as of March 31, a total of approximately 180 million shares of CareFusion common stock will be distributed to Cardinal Health shareholders. As previously disclosed, Cardinal Health will retain up to 19.9 percent of CareFusion's outstanding common stock, which equals approximately 45 million additional shares. Cardinal Health will divest all CareFusion shares within five years of completing the spinoff.

"The decision to modify the distribution ratio was driven by a preference to have fewer shares outstanding, allowing CareFusion to enter the market with a share price that is more consistent with other large-cap med tech companies and providing what we believe will be greater liquidity to our future shareholders," said David Schlotterbeck, CEO of CareFusion. "The receipt of the private letter ruling is a
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SOURCE Cardinal Health, Inc.; CareFusion Corporation
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