Zimmer Holdings (www.zimmer.com) was incorporated in January 2001 as a wholly owned subsidiary and CNV of Bristol-Meyers Squibb Company. Zimmer designs and markets orthopedic and surgical products.

The subsidiary was created from its parent in August 2001, with shareholders receiving 1 share of Zimmer for each 10 of Bristol-Meyers they owned. Study the origins of Zimmer and determine if the spin-off was the right action for Bristol-Meyers.