Washington, D.C.-based Danaher plans to spin off its environmental and applied sciences division into a new company that will be headquartered here in Waltham.
The new company, which will be called Veralto, is expected to launch in Q4 of 2023. The publicly traded company will be listed on the New York Stock Exchange under the symbol VLTO.
Veralto will be compromised of 11 different companies that generated roughly $4.8 billion in revenue last year. Those companies, which employ 16,000 people around the world, include water quality businesses like Hach, ChemTreat, Trojan, OTT HydroMet and McCrometer. Veralto will also include product identification platforms such as Videojet, Esko, X-Rite Pantone and Linx, according to a company statement.
The president and CEO of Veralto will be Jennifer Honeycutt, who currently leads Danaher’s environmental and applied sciences division.
“The name Veralto brings together two familiar Latin root words, ‘veri’ for truth and ‘alto’ for height, reflecting our commitment to excellence and the higher purpose that compels us to create a better future for all,” Honeycutt said in a statement. “As stewards of the world’s most vital resources, our businesses help ensure billions of people have safe food, water and medicines every day.”
