Embecta will be an independent, publicly-traded company, upon the completion of the transaction
BD selects embecta as the name for its diabetes spinout. (Credit: Becton, Dickinson and Company.)
Becton, Dickinson and Company (BD) has selected embecta as the name for the planned spinoff of its diabetes care business.
Embecta will be an independent, publicly-traded company, upon the completion of the transaction that is expected to take place in the second quarter of 2022.
In May this year, BD’s board of directors has unanimously authorised the plan to spin off its diabetes care business.
Embecta’s logo, which comprises two bold curved lines fused together to form a circle around a single point, symbolises the notion of bringing people together and creating a connection with the BD visual identity, the company said.
BD chairman, CEO and president Tom Polen said: “The Diabetes Care business can trace its roots back nearly 100 years to BD’s introduction of the world’s first specialized insulin syringe in 1924 and today is the leading producer of diabetes injection devices in the world.”
Upon completion of the spinoff, BD Diabetes Care worldwide president Devdatt Kurdikar will be appointed as embecta CEO.
The leadership team includes Ginny Blocki as senior vice president for product management and global marketing, and Shaun Curtis for global manufacturing and supply chain.
It comprises Tom Blount as North America president, Jake Elguicze as chief financial officer, and Ajay Kumar chief human resources officer.
Also, the team includes Jeff Mann as general counsel and corporate development head, Slobodan Radumilo as international president, and Colleen Riley as chief technology officer.
Devdatt Kurdikar said: “The Diabetes Care business is the trusted partner our customers and people living with diabetes have known for nearly a century, now with a single focus and the financial flexibility to pursue organic and inorganic innovations that will give more people a better life.
“We have assembled a diverse and experienced leadership team that is excited about the possibilities ahead, and our global team is passionate about the profound impact they can have on the growing number of people who live with this chronic and prevalent disease.
“Together, we look forward to making embecta synonymous with a life unlimited by diabetes.”
Recently, BD has acquired Venclose, a company involved in the development of next-generation solutions for the treatment of chronic venous insufficiency (CVI).
Established in 2014, Venclose has developed a radio frequency (RF) ablation technology platform for CVI, caused due to malfunctioning of valves, and may lead to varicose veins.