Danaher Plans To Separate Environmental & Applied Solutions Segment

(RTTNews) - Danaher Corp. (DHR) said that it plans to separate its Environmental & Applied Solutions segment to create an independent, publicly traded company.

The new company will be comprised of Danaher's Water Quality and Product Identification businesses and will be referred to as "EAS" until it is named at a later date. The transaction is expected to be completed in the fourth quarter of 2023.

The company noted that Jennifer Honeycutt will become President and Chief Executive Officer of EAS upon completion of the transaction. Honeycutt joined Danaher in 1999 via the acquisition of Hach and she currently serves as a Danaher Executive Vice President with responsibility for the Environmental & Applied Solutions segment.

In a separate press release, Danaher said it expects third quarter 2022 core revenue growth to be above the company's prior guidance range. The increase is driven by higher Cepheid respiratory testing revenue, which is now anticipated to be greater than $500 million for the third quarter 2022 versus the prior expectation of approximately $325 million.

The company continues to expect base business core revenue growth to be in the high single digit range in the third quarter.