Life and Death at the Opening Bell

[flashl]

When the leaders of a health care business and a coffin maker teamed up to ring the opening bell at the New York Stock Exchange last week, traders may have wondered if they were witnessing some kind of April Fool’s prank.

Was the spectacle a metaphor for what was happening in the health care industry, or on the Street? No, it was entirely literal. The celebrants were Peter H. Soderberg , chief executive of Hill-Rom Holdings, and Kenneth A. Camp, chief of Hillenbrand. The two businesses began trading as separate companies that day.

Hill-Rom deals in medical technology and equipment. Hillenbrand is the parent company of Batesville Casket, which positions itself as “a leader in the North American deathcare industry.”

Before Tuesday, Hill-Rom and Batesville Casket were units of Hillenbrand Industries, based in Batesville, Ind. Separating them, Mr. Soderberg said, “is the best way to unlock value and allow each company to focus on accelerating growth in their respective industries.”

NY Times

A twofer.