Cardinal Health Inc. is among several companies that are bidding to buy Medtronic medical-supplies business, Bloomberg News reported Tuesday.
Dublin, Ohio-based medical-products supplier Cardinal is the leading suitor, the news service reported, citing sources with knowledge of the deal. Northfield, Ill.-based Medline Industries Inc. has also reportedly put in a bid.
A Medtronic spokesperson declined to comment to Bloomberg.
Medical-device giant Medtronic acquired the supplies business two years ago when it bought Covidien in a $50 billion deal. Bloomberg reported in January that Medtronic had hired advisers to prep the business for sale. The unit was anticipated to fetch up to $5 billion.
Medtronic’s medical supplies business sells products like syringes and catheters. At the time of the Covidien deal, those commodity items seemed out of step with Medtronic’s portfolio of high-tech devices like pacemakers and neurostimulators. However, some industry observers projected then that Medtronic would incorporate those products into broader supply deals with health care providers.
Dublin, Ireland-based Medtronic’s (NYSE: MDT) operational headquarters are in Fridley.
Katharine Grayson covers med tech, clean tech, technology, health care and venture capital.
Image: ARIANA LINDQUIST | BLOOMBERG