Cardinal Health, Inc. (Cardinal Health) has announced a new name for its medical technology company that will be formed through the proposed spinoff of its clinical and medical products businesses. The new company will be named CareFusion, reflecting a diverse blend of medical technologies the company will offer to improve the safety and quality of care. With headquarters in San Diego, CareFusion expects to trade on the New York Stock Exchange under the ticker symbol CFN.
CareFusion is anticipated to generate about $4 billion in annual revenue.
“CareFusion(R) 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 vice chairman and future chief executive officer of CareFusion. “Not only will CareFusion(R) be an immediate market leader in medication safety and infection prevention, we will put a substantial emphasis on innovation and clinical differentiation to continue to serve this growing segment of the global health care industry. Patient safety has always been a moral obligation for hospitals, but with payors creating additional financial incentives to reduce errors, improving safety has become an economic mandate.”