Halyard Health Debuts as Public Company Following Spinoff
ALPHARETTA, Ga. - Halyard Health, a global medical technology company focused on preventing infection, eliminating pain and speeding recovery, today announced the completion of its tax-free spinoff from Kimberly-Clark Corporation (NYSE: KMB). Beginning today, Halyard shares will commence "regular-way" trading on the New York Stock Exchange (NYSE).
The distribution of Halyard common stock took place on October 31, 2014. In the distribution, Halyard issued one share of common stock for every eight shares of Kimberly-Clark common stock held as of the close of business on October 23, 2014, the record date for the distribution.
"Today Halyard Health launches with three decades of industry experience, leading positions in large markets, a diverse portfolio of strong brands and solid cash flow," said Robert Abernathy, chairman and CEO, Halyard Health. "We are confident about our prospects to deliver growth and value creation to our shareholders as an independent healthcare company focused on innovation."
The new company, headquartered in Alpharetta, Ga., reported 2013 net sales of $1.7 billion across its Surgical & Infection Prevention (S&IP) products and Medical Devices business. Halyard has 16,500 employees and markets products in more than 100 countries worldwide.
"Halyard's solutions are designed to address some of today's most important healthcare needs, such as preventing infection and reducing the use of narcotics, while helping patients recover faster," said Abernathy. "We will focus on maintaining leading market positions for our diverse portfolio of S&IP products and growing our pain management, digestive and respiratory health medical devices business."
About Halyard Health
Halyard Health is a medical technology company focused on preventing infection, eliminating pain and speeding recovery for healthcare providers and their patients. Headquartered in Alpharetta, Ga., Halyard is committed to addressing some of today's most important healthcare needs, such as preventing healthcare-associated infections and reducing the use of narcotics while helping patients move from surgery to recovery. Halyard's business segments — Surgical & Infection Prevention and Medical Devices — develop, manufacture and market clinically superior solutions that improve medical outcomes and business performance in more than 100 countries. For more information, visit www.halyardhealth.com.