CareFusion Offers Senior Unsecured Notes Totaling $1 Billion

Global medical technology company Carefusion Inc. has announced the pricing of three series of senior unsecured notes for an aggregate principal amount of $1 billion.

Of these, $300 million, bearing interest at an annual rate of 1.450 percent, will mature in 2017; $400 million will mature in 2024 and will bear interest at an annual rate of 3.875 percent and $300 million, bearing interest at an annual rate of 4.875 percent, will mature in 2044.

The company intends to use a portion of the net proceeds from the offering to repay $450 million in outstanding senior notes due in 2014, and to use the remaining net proceeds of the offering for general corporate purposes. The offering is expected to close on May 22, subject to customary closing conditions. 

The San Diego-based CareFusion operates in five major segments of the medical device and healthcare markets. The company develops technologies including infusion pumps and IV sets,  IV connectors and sets, automated dispensing and patient identification systems, ventilation and respiratory products, services for data mining surveillance, surgical instruments, and an extensive line of products that support interventional medicine.

Its CareFusion SmartWorks platform captures, consolidates and analyzes information from CareFusion infusion, dispensing, and ventilation technologies while standardizing system management to drive continuous improvement. The platform integrates CareFusion technologies with hospital IT systems, providing a common source of data, and offering reporting capabilities and trend monitoring surveillance.

The company's infusion and medication dispensing technologies and adverse drug event (ADE) surveillance solutions help hospitals and healthcare providers reduce costs, improve care coordination, and streamline medication use. Data from these devices can be integrated to help efforts to protect medications from undesired activity and sources of inefficiency at points of care.

Safety, effectiveness, and efficiency are promoted by CareFusion's operating room solutions that automate medication and supply management, and that include instrumentation, automated instrument tracking, and a surgical reporting suite that helps hospitals meet National Healthcare Safety Network (NHSN) surgical site reporting requirements.

CareFusion's system of infection prevention and control products, and surveillance and education, help hospitals and healthcare providers identify, address, and reduce the risk of infections.

CareFusion employs approximately 15,000 people across its global operations. The company says it serves customers in more than 120 countries.

Stephen Levy is a contributor to Qmed and MPMN.