Cardinal Health (NYSE:CAH) is one of several companies looking to pick up Medtronic’s medical supplies business, estimated to be worth $5 billion, Bloomberg News reported this week.
The Dublin, Ohio.-based company is at the head of the pack of companies looking to buy the supplies business, according to Bloomberg, citing sources with knowledge of the deal.
Medtronic has not yet commented on the deal or its sale of the medical supplies business.
News of the Fridley, Minn.-based company’s plans to divest of the supplies business emerged in early February.
A Bloomberg report suggested that the sale could happen in a single deal or through the divestiture of smaller chunks of the business, which sells general medical equipment including monitoring equipment, medical instrumentation, needles and other basic supplies.
The medical supplies business reported earnings before interest, taxes, depreciation and amortization of approximately $500 million, according to Bloomberg, with the deal slated to snag in the range of 8 to 10 times that number.
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