Bengaluru: Siemens Healthineers AG and General Electric Co’s healthcare business are weighing a potential acquisition of two units being spun off by Medtronic Plc, Bloomberg reported on Thursday, citing people familiar with the matter. Medtronic had announced plans in October to spin off the two units – patient monitoring and respiratory interventions – as it seeks to streamline its portfolio.
Bloomberg reported on Thursday that Medtronic was also open to a sale at the right price and the businesses could be valued at more than $7 billion. The two businesses were also drawing interest from private-equity firms, according to the report.
Medtronic has been restructuring its business over the last few years in a bid to increase the pace of its revenue growth.