Bayer considering sale of radiology supplies unit
Bayer AG, the German chemicals and healthcare company, is considering selling its radiology supplies unit, worth $3 billion, while the company is in talks to acquire Monsanto Co, reports Yahoo Finance.
Stating that it do not need the money from the sale to finance its $62 billion bid for Monsanto, Bayer has said it is in talks with investment banks about hiring a financial adviser to discuss the alternatives to the sale of the radiology supplies business or if Bayer will decide to keep the unit
The radiology business brings in more than $1.7 billion in revenue and contains products such as the Ultravist for computer tomography scans and Gadovist for MRI.
Bayer states that this proposed sale is just another step in its effort to focus its healthcare division to prescription drugs and consumer care products.
Recently, the business sold a unit making vascular catheters to treat clogged blood vessels to Boston Scientific Corp for $415 million in 2014 and also sold a blood glucose meter business to Panasonic Healthcare Holdings for $1.15 billion.
Cara joined TriMed Media in 2016 and is currently a Senior Writer for Clinical Innovation & Technology. Originating from Detroit, Michigan, she holds a Bachelors in Health Communications from Grand Valley State University.