Greatbatch Plans To Spin Off Algostim

(RTTNews) - Medical devices maker Greatbatch Inc (GB) on Thursday said it plans a tax-free spin-off of its Algostim LLC subsidiary, so that each company can optimize resource allocation and focus on different growth opportunities.

The company expects to complete the spin-off by the end of 2015, but subject to final approval of its board, among other conditions.

The spin-off would create a new publicly traded company focused on commercializing the Algovita Spinal Cord Stimulation system, with Greatbatch focused on expanding its core business and providing complete medical device systems.

Algostim is a part of Greatbatch's QiG Group, established in 2008 to develop a neurostimulation platform.