BD (NYSE:BDX) announced today that the planned spinoff of its diabetes business — named Embecta (Nasdaq:EMBC)— has been made official.
Franklin Lakes, New Jersey-based BD announced its intention to spinoff the diabetes business in May 2021, then unveiled the soon-to-be independent, publicly-traded company during the first half of 2022 as “Embecta” in December 2021. BD said the separation of the diabetes business from the rest of the company is consistent with its growth strategy and enhances the ability of Embecta to attract capital investment, recruit talent and allocate resources.
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