The medical device industry could be losing one of its giants. Struggling Toshiba, which had planned to sell part or all of its medical equipment business, now plans to simply sell the whole thing, according to Reuters, which cited people familiar with matter.
Toshiba's roughly $3.5-billion-a-year makes diagnostic impaging equipment, such as the MRI machine shown above.
(Image Source: courtesy of Toshiba Medical Systems)
The Reuters sources thought that aggressive bidding could boost the sales price above the previous estimates equivalent to $3.5 billion. It is a cash infusion the Japanese giant sorely needs.
Prospective buyers include buyout firm KKR & Co., Canon Inc., Fujifilm Holdings Corp., and Konica Minolta Inc., according to Reuters. The deal would mark the latest chapter in the medtech merger frenzy that is shifting the landscape of the medical device industry.
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Toshiba first announced in December that it was shopping around its medical device business, which brings in about $3.5 billion a year in sales.
Continue reading on EE Times' sister site, Qmed.