Cardinal Health completes CareFusion shares distribution

Cardinal Health, which was formerly known as Cavendish Pharmaceuticals, has completed the sale of 81 per cent of the common stock shares of CareFusion, it has revealed.

Around 180 million shares were distributed to Cardinal Health shareholders of record and 41 million shares were retained by the company, which it plans to pass on within the next five years.

CareFusion common stock has now begun regular trading on the New York Stock Exchange under the ticker symbol CFN.

George Barrett, chairman and chief executive officer of Cardinal Health, said: “The completion of the CareFusion spin-off marks a new day for Cardinal Health. We are focused on our role in helping make health care more cost-effective and our commitment to improving shareholder value.”

The company first announced news of the spin-off last September and said that the move would allow it to create a global leader in medical technology.