BD (Becton, Dickinson and Company) announced that it has completed its spinoff of Embecta Corp. (embecta), which holds BD's former Diabetes Care business and is now one of the largest pure-play diabetes management companies in the world.
"The completion of this spinoff is a significant achievement for both BD and embecta," said Tom Polen, chairman, CEO and president of BD. "While BD is proud of its heritage in the diabetes care category, we are just as excited to see our legacy advanced by embecta as a newly independent, publicly-traded corporation. Moving forward, each of our organizations will be able to focus on investment and innovation in our respective core businesses, support our customers and the patients they serve, drive strategic growth and enhance long-term shareholder value."
The spinoff of embecta demonstrates BD's ongoing commitment to the company's BD 2025 strategy, which includes its three strategic pillars of Grow, Simplify and Empower. The strategic rationale for the spinoff was to create two, independent companies with attractive long-term value for BD shareholders and enhanced strategic, operational and financial characteristics. Each company will focus on its core business and product portfolios, with BD maintaining its category leadership positions across its BD Medical, BD Life Sciences and BD Interventional segments.
embecta will focus on building on its solid foundation as the leading producer of diabetes injection devices, investing in both organic and inorganic growth opportunities and improving the lives of people living with diabetes.