Getinge Group has recently carried out a company-wide strategic review to clarify its optimal long-term strategy for ensuring sustainable and profitable growth that could see it split off part of the business in 2018. The company intends to focus in future on two business areas: Acute Care Therapies and Surgical Workflows.
The Acute Care Therapies offering includes solutions for cardiac, pulmonary and vascular therapies and a broad selection of products and therapies for intensive care. Surgical Workflows develops products and solutions for infection control, equipment for surgical workplaces and advanced IT systems for hospitals.
Based on this long-term strategic direction, the Board of Directors has tasked the management of Getinge Group to prepare for a distribution and listing of Patient & Post-Acute Care, formerly Extended Care, in accordance with Lex ASEA. Essentially, Lex ASEA means that a parent company can, under certain circumstances, distribute the company’s shares in a subsidiary to its shareholders without any immediate Swedish taxation arising for the shareholders. Patient & Post-Acute Care’s offering encompasses products and solutions for safe patient handling, prevention of venous thromboembolisms, medical beds, hygiene systems and early mobility, among others.
The proposal is subject to a decision by the shareholders at an Extraordinary General Meeting (EGM) in autumn 2017. Should the EGM approve the Board’s proposal, the aim is to complete the listing not later than during the first quarter of 2018.
'The future listing of Patient & Post-Acute Care will increase the ability of both companies to realise their strategies and to best continue to enhance customer benefits and shareholder value,' says Joacim Lindoff, Acting President and CEO of Getinge Group.
Following a split, both companies will have a more concentrated focus, with more opportunities to continue to develop products and solutions to meet customer needs and thereby help solve healthcare challenges. The financial targets for both companies will be determined and presented as part of the preparation work.