Smiths Group has announced its intention to separate Smiths Medical, the medical business division from the group and to focus more on industrial technology.
Smiths Group stated that the decision will enable Smiths Medical to deliver on its full potential, capitalising on its position, by launching new products and to exploit opportunities that can add value to its business.
The group continued stating that the separation, which is still in an early stage and will be undertaken simultaneously with continued execution of the group’s overall growth strategy.
Full details about the planned separation will be provided by Smiths Group by next March.
Smiths CEO Andy Reynolds Smith said: “This is an exciting development for Smiths and Smiths Medical. This planned separation will strengthen both Smiths and Smiths Medical as they each focus on accelerating the execution of their plans and maximising the opportunities in their respective markets.
“Following our focus on operational improvements and increased investment, we believe it is now time to prepare the separation of Smiths Medical from the rest of the Group. Smiths Medical is well positioned to capitalise on its leadership positions and the investments made in the business.
“Smiths will concentrate on executing on its growth strategy as a global leader in Industrial Technology, driving maximum value for our shareholders.”
Smiths Medical is a developer of specialized medical devices and consumables for hospitals, ambulances, homes and specialty care environments. The products are used during critical and intensive care, surgery, post-operative care and for support in managing chronic illnesses.
It specializes in areas such as general anesthesia, critical care, oncology, cardiology, respiratory care, alternate care, pain management, veterinary, home care, emergency medicine, neonatal and pediatric critical care and regional anesthesia.
Its solutions include airway management, interventional imaging, IV catheters, safety devices, vascular access, drainage systems, pain management, pressure monitoring, temperature management, ventilation, infusion, patient monitoring, respiratory and tracheostomy.
Smiths Medical’s products are sold across 120 countries and have operations in over 30 countries. The division has more than 8,000 employees.