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. Near the end of 2021, it unveiled the soon-to-be independent, publicly-traded company’s name as “Embecta,” with plans to complete the spinoff during the first half of this year. 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.
Embecta’s focus centers around the production of diabetes injection devices, with investment to come in organic and inorganic growth opportunities to improve the lives of those with diabetes, according to a news release.
BD said the name “Embecta” represents the future company’s commitment to helping those with diabetes while paying homage to its corporate heritage. The “em-” prefix refers to empathy for those living with diabetes, while the “bect” embeds part of the Becton Dickinson name into BD’s spinoff.
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