Cardinal Health to Spin Off Medical Products Business

Cardinal Health Inc. has launched a new brand, Carefusion Corp., which will be a spinoff of its clinical and medical products businesses, according to the Dublin, Ohio-based firm.

The medical device maker said it plans to make the transaction official in late summer, and it will be a public company. It has applied to have its shares of common stock listed on the New York Stock Exchange under the ticker symbol “CFN.”

CareFusion will develops technologies including Alaris IV pumps, Pyxis automated dispensing and patient identification systems, AVEA and Pulmonetic Systems ventilation and respiratory products, ChloraPrep and MedMined services for infection prevention, neurological monitoring and diagnostic products, V. Mueller surgical instruments and a line of products that support interventional medicine.

It employs more than 15,000 people worldwide and serves customers in 120 countries.