Smith Medical‘s parent company Smiths Group (LON:SMIN) is expected to disclose how it plans to separate its medical division from the rest of the organization on Friday, according to a report from the Minneapolis Star Tribune posted yesterday.
The conglomerate has been seeking buyers for its medical division over the past few years, and has also mentioned the possibility of an initial public offering.
A report last November alleged that the industrial tech-focused Smiths Group was looking to spin-off the healthcare business and that CEO Andy Reynolds has considered a number of different options for the medical division, including sale or separate listing.
London-based Smiths Group is planning to disclose its plans for separation during an earnings call on Friday, according to the Star Tribune.
“Ultimately, it was a decision that has been made by the board of directors and by the executive committee of the group to really ensure that we are getting the strength of both companies — getting the strength of the med-device industry for a very specific medical device player, Smiths Medical, and you have the ability for … the other businesses in Smiths Group to really strongly relate to the industries in which they are involved,” Smiths Medical marketing executive Carl Stamp told the paper.