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Siemens Healthineers AG (OTCPK:SEMHF) (OTCPK:SMMNY) and the healthcare arm of General Electric (NYSE:GE) are among companies in the race to acquire two businesses that Medtronic (NYSE:MDT) is spinning off, Bloomberg reported Thursday, citing people familiar with the matter.
In October, the Dublin-based medical device maker said it would separate the company’s combined Patient Monitoring and Respiratory Interventions businesses over the next 12 – 18 months.
Private equity firms are also on the hunt for the units, which could be valued at over $7B, the people said on the condition of anonymity, given the confidential nature of the information.
While Medtronic is in the process of spinning off the units, the company is also open for outright sales if bidders come up with the right price, according to the people, who added that the talks are ongoing and might not necessarily lead to any offers.
A Medtronic (MDT) spokesperson declined to comment, noting that the company continues to assess its plans for the spinoff. Representatives for GE Healthcare (GE) and Siemens Healthineers (OTCPK:SEMHF) also refused to comment.
Siemens Healthineers (OTCPK:SEMHF) was launched as a spinoff from Siemens AG in 2008, and General Electric (GE) is also in the process of spinning off its healthcare division as GE Healthcare (GEHC) which is expected to begin trading in early January.
Image and article originally from seekingalpha.com. Read the original article here.