TOP OF THE NEWS
FY18 non-GAAP earnings per share in the
range of approximately 12 cents to 18 cents,
with the exact amount primarily dependent
on the deal’s closing date.
The divested businesses generated approximately $2.4 billion in revenue over
the last four reported quarters. Product
lines include dental/animal health, chart
paper, wound care, incontinence, electrodes, SharpSafety, thermometry, perinatal protection, blood collection, compression, and enteral feeding offerings. It also
will include 17 dedicated manufacturing
facilities. Medtronic will retain its Respiratory & Monitoring Solutions and Renal
Care Solutions businesses.
“This transaction enables our group to
better focus on a portfolio that delivers on
our global strategic priorities,” said Bryan
Hanson, executive vice president and presi-
dent of Medtronic’s MITG. “We believe our
employees and these businesses will thrive
under Cardinal Health’s ownership. We
appreciate the contributions of our team
throughout the years, and the partnership
and loyalty of our customers and patients.”
Alere’s Purchasing Price
Lowered to $5.3 Billion
Abbott Laboratories and Alere Inc. have
agreed to amend the existing terms of their
Under the amended terms, Abbott
will pay $51 per common share to acquire
Alere, for a new expected equity value of
approximately $5.3 billion, reduced from
the originally expected equity value of
roughly $5.8 billion.
The deal is expected to close by the end
of the third quarter of 2017.
Under the amended terms, the due date
for necessary regulatory approvals was extended to Sept. 30 from April 30. Additionally, the companies have agreed to dismiss
their respective lawsuits.
On Feb. 1, 2016, Abbott and Alere an-
nounced they were merging. By acquiring
Alere, a developer of point of care diagnos-
tics, Abbott is expanding its global diagnos-
tics presence and leadership.
Point-of-care testing is a $5.5 billion segment and one of the fastest-growing in-vitro
diagnostics segments, in part because many
healthcare systems are increasing their reliance on these technologies to inform patient
care decisions due to their ease of use, speed
CareStream Agrees to Sell
Digital Dental Business
Carestream has agreed to sell its dental digital business to funds managed by Clayton,
Dubilier & Rice (CD&R), a global private
investment firm, and CareCapital Advisors
Limited, a specialist investment platform
focused on dental and consumer health in
Asia and part of Hillhouse Capital Management. The new independent company will
be named Carestream Dental.