29 September 2023, 4:32 pm 1 minute
Reuters exclusively reported that Private equity firm Carlyle Group Inc (CG.O) has entered into exclusive negotiations to acquire a majority stake in two medical device businesses of Medtronic Plc (MDT.N) at a valuation of more than $7 billion.
Medtronic is seeking to streamline its portfolio and focus on its higher-growth assets, such as its heart and diabetes devices, by divesting the two units which generated approximately $2.2 billion in revenue in the 2022 fiscal year according to the company.
Topics of Interest: DealsTechnology
Type: Reuters Best
Sectors: Business & FinancePharmaceuticals & HealthcareTechnology
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story