Medtronic Inc plans to sell its external defibrillator business, Physio-Control, to Bain Capital for $487 million in cash.Medtronic, a manufacturer of implantable defibrillators and pacemakers, heart stents and other devices, said on Thursday that Brian Webster, president of the Physio-Control unit, will become chief executive officer of the business, based in Redmond, Washington.The deal is expected to close in the first quarter of 2012.Medtronic has talked about selling its external defibrillator business for years.
Medtronic, Inc. (Medtronic) is a medical technology company. Shares of MDT fell by 1.08% or $-0.37/share to $33.89. In the past year, the shares have traded as low as $30.18 and as high as $43.33. On average, 6427270 shares of MDT exchange hands on a given day and today's volume is recorded at 1738426.
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