BD (NYSE:BDX) announced today that it appointed David F. Melcher and Dr. Claire Pomeroy as directors of its diabetes spinoff.
Franklin Lakes, N.J.-based BD previously announced the separation of its diabetes care business into an independent, publicly traded company called NewCo.
According to a news release, the appointments of Melcher as non-executive chair of the board of directors and Pomeroy as director of the company will be effective upon completion of the spinoff, which BD expects to take place in the first half of the calendar year 2022.
Completion will be subject to customary conditions, including final approval from the BD board. Further appointments to the NewCo board and executive team are expected to be announced prior to that date, BD said.
“Our focus is on setting NewCo on the path to success and growth,” BD chairman, CEO & president Tom Polen said in the release. “The selection of David and Claire to the NewCo board of directors will provide significant health care and public company leadership experience for NewCo, which will be critical for the future direction of this standalone business as one of the largest diabetes-focused organizations in the world.”
Melcher holds experience in spinoffs, including serving in the role of chief executive at Exelis after it spun off from ITT. Once the spinoff occurs, Melcher will no longer be a director of BD, which is a role he has held since 2017.
Pomeroy has served in roles across healthcare, health system administration, higher education, medical research and public health. She, too, will cease to be a director of BD — a position she’s held since 2014 — upon completion of the spinoff.
“David and Claire establish a strong foundation for the NewCo board of directors through their many years of experience and insight from the BD board, and I’m particularly excited to tap into David’s background with spinoffs and Claire’s knowledge of the healthcare provider community,” future CEO of NewCo Devdatt Kurdikar said. “As we seek to leverage and honor the legacy of BD while standing up a new, focused Diabetes Care company, their knowledge of the organization as it stands today, and the evolving global med tech landscape in which we compete, will prove invaluable.”