Kimberly-Clark said that the Form 10 Registration Statement for its previously announced plan to spin off its health care business has been filed with the Securities and Exchange Commission. The new company will be called Halyard Health, Inc. and will be headquartered in Alpharetta, GA, near Atlanta.
"The planned spin-off of our health care business continues our focus on creating shareholder value,” says Kimberly-Clark chairman and CEO, Thomas J. Falk. “When the spin-off is completed, Halyard Health will be able to take advantage of its leading positions in several key categories to drive its performance and pursue its own opportunities. This move will also allow Kimberly-Clark to further sharpen our focus on growing our consumer and K-C Professional brands around the world."
Robert E. Abernathy, future chairman and CEO of Halyard Health, says, "We are pleased to be one step closer to completing the spin-off and are excited about what our new name represents. Halyard is a nautical term that refers to the line that raises the sails of a ship as it embarks on a voyage. Our new direction as an independent company is focused on advancing the health of patients and our industry by delivering clinically-superior solutions for preventing infection, eliminating pain and speeding recovery."
Once the planned spin-off is completed later this year, Halyard Health will be a stand-alone public company and is expected to trade on the New York Stock Exchange. The company generates approximately $1.7 billion in annual net sales, has leading market positions in both surgical and infection prevention products and medical devices and employs approximately 16,500 employees.