BD (NYSE:BDX) announced today that it named its Diabetes Care business — which it plans to spin off next year — “embecta.”
Franklin Lakes, New Jersey-based BD confirmed in May that it plans to spin off its Diabetes Care business as an independent, publicly-traded company during the first half of 2022 and confirmed today that it expects that spinoff to close in the second quarter of the 2022 calendar year.
According to a news release, “embecta” represents the future company’s commitment to helping those with diabetes while paying homage to its corporate heritage. The “em-” prefix refers to empathy for those living with diabetes, while the “bect” embeds part of the Becton Dickinson name into BD’s spinoff.
The logo for embecta fuses two bold, curved lines to form a circle around a single point, symbolizing the idea of bringing people together to form a collaborative, personal relationship, BD said.
“The Diabetes Care business can trace its roots back nearly 100 years to BD’s introduction of the world’s first specialized insulin syringe in 1924 and today is the leading producer of diabetes injection devices in the world,” BD Chairman, CEO & President Tom Polen said in the release. “We’re proud to see that shared legacy reflected in the new name.”
Devdatt Kurdikar, the current Worldwide President of BD Diabetes Care, will become CEO of embecta upon the completion of the spinoff.
Operating under Kurdikar, embecta’s leadership team will include Ginny Blocki as SVP of Product Management & Global Marketing, Tom Blount as SVP & President of North America, Shaun Curtis as SVP of Global Manufacturing & Supply Chain, Jake Elguicze as SVP & CFO, Ajay Kumar as SVP & Chief Human Resources Officer, Jeff Mann as SVP, General Counsel & Head of Corporate Development, Slobodan Radumilo as SVP & President of International and Colleen Riley as SVP & CTO.
BD had previously announced in July that it appointed David F. Melcher and Dr. Claire Pomeroy as directors of the diabetes spinoff.