ICUI - ICU Medical competing with GE Healthcare for Medtronic units - report

2023-03-29 10:11:31 ET

• ICU Medical ( ICUI ) is joining with a private equity firm to compete with GE Healthcare ( GEHC ) as the companies try to acquire two medical technology units that Medtronic ( NYSE: MDT ) is selling. ICU Medical gained 2.3%.
• Medtronic is said to be seeking $8 billion to $9 billion for the businesses, according to a Reuters report on Wednesday, which cited people familiar. ICU Medical ( ICUI ) submitted its bid along with PE firm Linden Capital Partners.
• GE Healthcare ( GEHC ) as well as PE firms Carlyle Group ( CG ) and Clayton, Dubilier & Rice are also in the second round of the sales process, Reuters said.
• The latest item on the Medtronic units sale comes after Bloomberg reported in September that Siemens Healthineers AG ( OTCPK:SEMHF ) and the healthcare arm of General Electric ( GEHC ) were among companies in the race to acquire two businesses that Medtronic ( MDT ) is spinning.
• In October Medtronic ( MDT ) said it would separate the company's combined Patient Monitoring and Respiratory Interventions businesses over the next 12 – 18 months.

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