Through his various leadership positions with Mylan, Pharmacia and American Home Products Corporation, Borkowski has gained broad knowledge of the health care industry, with deep experience in corporate finance, treasury, tax, business development, information technology and operations. He earned his Bachelor of Science degree in economics and political science from Allegheny College and holds an MBA from Rutgers University.
“Ed has a proven record of identifying growth opportunities and executing against them with very positive results for shareholders,” said David Schlotterbeck, chief executive officer of CareFusion.
“He will be a key contributor to our management team as we execute our strategies for growth.”
Cardinal Health’s target is to complete the planned spinoff later this summer. Completion and specific timing of the planned spinoff will depend on a number of factors, including the Form 10 being declared effective by the SEC and the Cardinal Health board of directors declaring a dividend of CareFusion stock to Cardinal Health shareholders. Other conditions to completing the planned spinoff include receipt of a ruling from the Internal Revenue Service that the spinoff will qualify as a tax-free transaction, CareFusion securing the necessary debt financing and both companies’ debt being rated as investment grade. The satisfaction of some conditions will depend in part on credit market conditions at the time of the required financial transactions. No assurance can be provided as to the timing of the planned spinoff or that all conditions to the planned spinoff will be met.
