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Chronimed

This article was originally published in The Gray Sheet

Executive Summary

Firm says it will spin off its diagnostic products unit "within the next few months" as a tax-free dividend to shareholders. The diagnositcs business consists of blood glucose meters and strips, as well as dry reagent urine test strips, is profitable and generates annual revenues of about $35 mil. A name for the stand-alone entity has not yet been chosen. The Minneapolis company's remaining pharmacy services business, which also is profitable and generates annual sales of about $215 mil., will retain the Chronimed name
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