Biomet decides to explore options for spinning out its 3i dental devices division, following Abbott's lead and Goldman Sachs' advice to another device maker
In a growing trend among device makers, Biomet Inc.announced that it's exploring strategic options to spin out its 3i dental devices division.
The company is just testing the waters and a split isn't guaranteed, but if completed the move will follow in some notable footsteps.
Abbott (NYSE:ABT) has met with mixed reactions over the last few months after deciding to carve out its research pharmaceuticals business into a separate firm called AbbVie.
Covidien (NYSE:COV) announced late last year that it would spin out its no-growth pharmaceuticalsdivision into a stand-alone business.
Privately owned Biomet expects to spend several months working on structure, management, governance and other matters related to a potential separation, and doesn't intend to comment on the evaluation until a decision is made, according to a regulatory filing.
Some of that decision-making may be colored by Goldman Sachs' advice to new Johnson & Johnson (NYSE:JNJ) CEO Alex Gorsky, urging him to think small.
"In our view, evidence is building across...
