Bristol-Myers Squibb To Spin-Off Zimmer, Inc.

23-Feb-2001

Bristol-Myers Squibb Company (NYSE: BMY) today announced that it intends to separate its orthopaedics subsidiary Zimmer, Inc. into an independent publicly traded entity, through a tax-free distribution to Bristol-Myers Squibb shareholders.

Divestiture of Zimmer is an element in Bristol-Myers Squibb’s stated strategy of focusing attention and resources on its Medicines businesses.

Bristol-Myers Squibb expects to establish Zimmer as an independent publicly traded company by the end of the third quarter of 2001.

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