Holliston-based Harvard Bioscience completed the spinoff of the regenerative medical device portion of its company last week, the company said.
Harvard Bioscience shareholders received one share of Harvard Apparatus Regenerative Technology, Inc. (HART) Oct. 21 for every four shared of Harvard Bioscience stock owned.
As a result of the spinoff, Harvard Bioscience no longer owns HART shares, with HART becoming an independent public company.
“The team of Harvard Bioscience will now be completely devoted to bolstering our core businesses, including our highly regarded instrument product line,” CEO Jeffrey Duchemin said in a statement.
With the split, Duchemin also assumed the role of company president. David Green, president of Harvard Bioscience, became president and CEO of HART.
Harvard Bioscience planned to spin off HART earlier this year, but held off due to economic conditions.
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