Cardinal Health, a provider of healthcare products and services, has selected CareFusion as the branding for the medical technology company that will be formed through the proposed spinoff of its clinical and medical products businesses.
From infusion and medication safety technologies to respiratory equipment, automated medical supply dispensing and infection prevention offerings, CareFusion will have a singular focus on patient safety, according to the Dublin, Ohio-based Cardinal. The new company is seeking to trade on the New York Stock Exchange under the ticker symbol CFN.
Cardinal said that the new company will be headquartered in San Diego and anticipates that it will generate approximately $4 billion in annual revenue. With more than 13,000 employees globally, CareFusion will serve customers in 120 countries with technologies, including Alaris IV pumps, Pyxis automated dispensing systems, MedMined electronic infection surveillance service, Avea respiratory care products and ChloraPrep skin preparation products.
The naming and brand development process began in August 2008 after the spinoff decision was reached, and the executive team established a mission, along with a set of strategies and internal beliefs that will be the foundation for the new company.