Kimberly Clark (KMB
) announced that it may be spinning off of the company’s healthcare business. Kimberly Clark’s board approved the move on Friday morning.
The Kleenex maker’s healthcare business sells medical devices, as well surgical and sterilization products. The health care business reported sales of $1.6 billion in 2012.
Nothing is set in stone as of now, but if the spin off went through, Robert Abernathy, a current executive involved in global nonwovens and continuous improvement and sustainability, would lead the new company as CEO. The final decision about the spinoff will be made in the next several months.
Investors reacted positively to this potential spinoff news, sending KMB stock up $2.34, or 2.13%, in pre-market trading. The company’s stock is up 27% YTD.
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