In a conference call yesterday to discuss the company’s year-end financial performance, CareFusion CEO Kieran Gallahue hinted that the San Diego-based medical device maker might jump on the bandwagon of medtech megamergers designed to reduce taxes.
Gallahue mentioned that capital deployment will remain “an important part” of CareFusion’s plans going forward. He told analysts the company plans to spend at least half of its free cash flow on share repurchases and “tuck-in acquisitions” over the next two years—amounting to an expected $240 million in fiscal 2015. Large-scale acquisitions aren’t included in that forecast, but Gallahue left open the possibility of reaching deeper into the company’s coffer if the right deal came along.
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