* Plans Patient & Post-Acute Care listing by Q1 2018
* Lifts some investor uncertainty around strategy
* Shares up 4 pct
* Q3 core profit 963 mln SEK vs consensus 1.00 bln
(Adds detail, background, share reaction)
By Anna Ringstrom and Rebecka Roos
STOCKHOLM, Oct 18 Swedish medical technology
firm Getinge plans to list its smallest division
Patient and Post-Acute Care, it said on Tuesday, sending its
shares higher even as profits missed expectations for a sixth
Getinge, which makes equipment for surgery and intensive
care, has had a turbulent few months. It fired its chief
executive in August after only 17 months in the job citing
strategic difference and is under investigation by U.S.
authorities into quality controls at its plants.
While a new top executive has yet to be appointed, the
spin-off offered insight into the group's strategic direction
and shares were up 4.2 percent at 1253 GMT, outperforming the
STOXX Europe health care index.
"Getinge has decided to focus on two business areas, Acute
Care Therapies and Surgical Workflows," it said in a statement.
"The future listing of Patient & Post-Acute Care will
increase the ability of both companies to realise their
strategies," it added.
It plans to list the Patient and Post-Acute Care unit, which
makes equipment for lifting and transporting patients, no later
than the first quarter of 2018.
"The new structure opens up for faster change and
rationalisation processes, so I see this as clearly positive,"
said Johan Unnerus, analyst at Swedbank.
Getinge reported third-quarter operating profit before
amortisation and extraordinary costs of 963 million crowns ($109
million), up from 828 million a year ago but below a Reuters
poll forecast of 1 billion.
The company also forecast "moderately negative" organic
sales development this year versus a previous forecast for
moderate growth and said costs for an ongoing restructuring
programme would be higher this year than previously guided.
Getinge launched the restructuring scheme in September last
year to address years of margin pressure due to slower growth,
price pressure and quality problems.
($1 = 8.8120 Swedish crowns)
(Reporting by Anna Ringstrom)