WR Grace splits out healthcare business:
This article was originally published in Clinica
Executive Summary
In reporting second-quarter results, specialty chemicals manufacturer WR Grace has split out healthcare as a discontinued operation. This has been done in anticipation of the planned spin-off of National Medical Care (NMC) to shareholders in the fourth quarter (see Clinica No 659, p 13). In the second quarter, NMC's sales rose 15% to $524 million and net income improved 13% to £31 million. First-half sales were up 19% to $1,015 million, net income by 10% to $52 million.