Looks like you’re on the UK site. Choose another location to see content specific to your location

Home Industry News Medtronic sells off certain businesses to Cardinal Health

Medtronic sells off certain businesses to Cardinal Health

24th April 2017

Medtronic has agreed a deal worth $6.1 billion (4.77 billion pounds) to sell off a number of its business units to Cardinal Health.

The company is divesting its patient care, deep vein thrombosis and nutritional insufficiency businesses – part of the patient monitoring and recovery division of its minimally invasive therapies group – to Cardinal Health, a deal expected to close during the second quarter of its 2018 fiscal year.

Combined, these businesses generated approximately $2.4 billion in revenue over the last four reported quarters, with the sale encompassing Medtronic's dental/animal health, chart paper, wound care, incontinence, electrodes, SharpSafety, thermometry, perinatal protection, blood collection, compression, and enteral feeding offerings.

The transaction also will include 17 dedicated manufacturing facilities and will help Medtronic to increase its focus on key areas of strategic priority.

Following the sale, Medtronic will retain its respiratory and monitoring solutions and renal care solutions businesses, both of which also operate within the patient monitoring and recovery division.

Omar Ishrak, Medtronic chairman and chief executive officer, said: "This is a positive transaction for all involved – Medtronic, Cardinal Health and our respective shareholders and employees – who we believe will all thrive under this change in ownership."

With over 20 years of experience within the medical devices market, we at Zenopa have the knowledge, skills and expertise to help find the right job for you. To find out more about the current medical device roles we have available, you can search for the latest job roles, register your details, or contact the team today.ADNFCR-8000103-ID-801835049-ADNFCR

We have hundreds of jobs available across the Healthcare industry, find your perfect one now.

Stay informed

Receive the latest industry news, Tips
and straight to your inbox.