Chronimed to spin off diagnostics business:
This article was originally published in Clinica
Chronimed, a US patient management and supply service for people with chronic conditions, is to spin off its diagnostic products division into a separate company that will trade on the Nasdaq stock exchange. Minneapolis, Minnesota-based Chronimed will distribute shares as a tax-free dividend to shareholders. The decision comes after consultancy led by Paine-Webber identified the separate nature of the company's pharmacy and diagnostics businesses.