Cardinal Health chooses name for spinoff.Cardinal Health has selected a name for the medical technology company that will be formed through the proposed spinoff of its Clinical and Medical Products businesses, which the company announced last September. The new company will be dubbed CareFusion. According to Cardinal officials, the name reflects "the diverse blend of medical technologies" the firm will offer, including infusion and medication safety technologies, respiratory equipment, automated medical supply dispensing and infection prevention devices. "CareFusion is a name that clearly communicates our ability to bring together technologies that improve patient safety and streamline the care process," said David Schlotterbeck, Cardinal Health's vice chairman and future CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CareFusion. Schlotterbeck predicted the spinoff would be an "immediate market leader in medication safety and infection prevention," and that the company would put "substantial emphasis" on innovation and clinical differentiation. "Patient safety has always been a moral obligation for hospitals, but with payers creating additional financial incentives to reduce errors, improving safety has become an economic mandate," he added. The new company, which will focus on systems for infusion, medication and supply dispensing, respiratory care, infection prevention, medical diagnostics and surgical procedures, will be headquartered in San Diego, Calif. Fiscal 2009 pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma revenue for these businesses as a standalone entity is expected to be more than $4 billion, which would place the company among the world's largest medical technology firms. Building on existing product lines, of course, helps. Its primary product line will include Cardinal Health's Alaris IV infusion and Pyxis dispensing systems, AVEA AVEA American Veterinary Exhibitors Association and LTV LTV See: Loan-to-value ratio series ventilators, V. Mueller surgical instruments and clinically differentiated offerings to reduce hospital-acquired infections Hospital-Acquired Infections Definition A hospital-acquired infection is usually one that first appears three days after a patient is admitted to a hospital or other health care facility. through MedMined services and ChloraPrep preoperative pre·op·er·a·tive adj. Preceding a surgical operation. preoperative preceding an operation. preoperative care the preparation of a patient before operation. skin preparation. Cardinal Health will keep certain products made for the operating room, such as fluid management devices and surgical gloves. CareFusion will have more than 13,000 employees worldwide. Cardinal Health has owned the CareFusion trademark since 2006 when the company acquired Care Fusion Inc., a maker of handheld barcode technology that provides positive patient identification for medication administration, lab specimen collection and blood transfusions. The company expects to trade on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the ticker symbol CFN CFN Center for Functional Nanomaterials CFN Companhia Ferroviaria do Nordeste (Brazil) CFN Commercial Fueling Network CFN Conselho Federal de Nutricionistas (Brazil) . |
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