Medtronic to sell medical-supplies business

Medical devices company Medtronic, is supposedly preparing to sell some, or all of its medical-supplies business, according to Bloomberg.

No buyers have been identified yet, but whilst discussions are still at an early stage, the division could be valued at $5 billion.

Medtronic’s medical supplies business sells a range of medical products such as syringes, catheters, monitoring equipment and medical instruments. In 2014 Medtronic acquired Covidien in a deal worth almost $50 billion.

The sale could occur in a single deal or through the division of smaller chunks of the business.

A Medtronic spokesperson refused to provide a comment, highlight the company’s policy on rumours of potential M&A or divestiture plans.

Medtronic’s shares rose to $77 earlier this week in New York after trading, totalling a rise of 1.3%.