Danaher Announces Plan To Spin Off Dental Business Into An Independent, Publicly Traded Company
Summary
WASHINGTON, July 19, 2018 /PRNewswire/ -- Danaher Corporation (NYSE: DHR) today announced its intention to spin off its Dental segment into an independent, publicly-traded company ("DentalCo"). "This is an important step towards realizing even greater potential for both Danaher and our Dental business," said Thomas P. Joyce, Jr., President & Chief Executive Officer. We intend to build upon and reinforce our common culture ― the Danaher Business System ― and will continue to deliver world-class innovation, service and solutions for our customers. Danaher is a global science and technology innovator committed to helping its customers solve complex challenges and improving quality of life around the world. These factors include, among other things, the uncertainty of regulatory approvals, Danahers ability to satisfy the necessary conditions to consummate the transaction on a timely basis or at all, Danahers ability to successfully separate DentalCo and realize the anticipated benefits from the separation (including consummating the transaction on a basis that is tax-free to shareholders), DentalCos ability to succeed as a stand-alone, publicly traded company, deterioration of or instability in the economy, the markets we serve and the financial markets, developments and uncertainties in U.S. policy stemming from the current administration, such as changes in U.S. trade and tariff policies and the reaction of other countries thereto, contractions or growth rates and cyclicality of markets we serve, competition, our ability to develop and successfully market new products and technologies and expand into new markets, the potential for improper conduct by our employees, agents or business partners, our compliance with applicable laws and regulations (including regulations relating to medical devices and the health care industry), our ability to effectively address cost reductions and other changes in the health care industry, our ability to successfully identify and consummate appropriate acquisitions and strategic investments and successfully complete divestitures and other dispositions, our ability to integrate the businesses we acquire and achieve the anticipated benefits of such acquisitions, contingent liabilities relating to acquisitions, investments and divestitures (including tax-related and other contingent liabilities relating to past and future split-offs or spin-offs), security breaches or other disruptions of our information technology systems or violations of data privacy laws, the impact of our restructuring activities on our ability to grow, risks relating to potential impairment of goodwill and other intangible assets, currency exchange rates, tax audits and changes in our tax rate and income tax liabilities, changes in tax laws applicable to multinational companies, litigation and other contingent liabilities including intellectual property and environmental, health and safety matters, the rights of the United States government to use, disclose and license certain intellectual property we license if we fail to commercialize it, risks relating to product, service or software defects, product liability and recalls, risks relating to product manufacturing, the impact of our debt obligations on our operations and liquidity, our relationships with and the performance of our channel partners, uncertainties relating to collaboration arrangements with third-parties, commodity costs and surcharges, our ability to adjust purchases and manufacturing capacity to reflect market conditions, reliance on sole sources of supply, the impact of deregulation on demand for our products and services, labor matters, international economic, political, legal, compliance and business factors (including the impact of the United Kingdoms decision to leave the EU), disruptions relating to man-made and natural disasters, and pension plan costs.