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Tyco Healthcare to stand alone

This article was originally published in The Gray Sheet

Executive Summary

Tyco Healthcare President Rich Meelia will become CEO of the firm, following its separation from Tyco International. On Jan. 13, the corporate giant announced plans to spin off its electronics and healthcare units from its remaining operations, which include security and fire-protection services. Tyco will take a one-time charge of $1 bil. Tyco Healthcare, which booked nearly $10 bil. in revenue during 2005, expects to benefit from a streamlined focus. Shareholders will own stock in all three companies following the breakup, expected to be completed in Q1 of 2007...
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