Getinge to spin out Patient & Post-Acute Care business, earnings

Getinge (PINK:GETI B) said Tuesday it is looking to spin-out its Patient & Post-Acute Care businesses in an attempt to strategically ensure sustainable growth at the company.

The move comes as the Swedish company said it will focus on its Acute Care Therapies and Surgical Workflows businesses.

The Acute Care Therapies business includes solutions and devices related to cardiac, pulmonary and vascular therapies as well as products for intensive care. The company’s Surgical Workflow division develops products and solutions for infection control, equipment and surgical workplaces as well as IT systems for hospitals.

“The future listing of Patient & Post-Acute Care will increase the ability of both companies to realize their strategies and to best continue to enhance customer benefits and shareholder value,” acting prez & CEO Joacim Lindoff said in a press release.

The company said it will “prepare for distribution and listing” of the Patient & Post Acute Care business, formerly known as Extended Care, with the proposal subject to shareholder approval at a future general meeting slated for fall next year.

Getinge said it hopes to complete the listing no later than the 1st quarter of 2018.

In August, Getinge said it launched a new combined angiography system designed for hybrid operating rooms as a collaborative project with GE Healthcare (NYSE:GE).

The system combines Getinge’s Maquet brand Magnus OR table with GE’s Discovery IGS 730 angiography system to allow for an expanded range of surgical procedures and interventions.

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