Bain Capital Private Equity has entered into a definitive agreement to sell its 100 percent stake in urgent care specialist Physio-Control to New York Stock Exchange-listed Stryker Corporation, Private Healthcare Investor reports.
The exit will be an all-cash transaction which values Physio-Control at $1.28 billion, and is from Bain Capital’s Global Fund X, according to market sources.
This is Stryker’s second urgent care deal this month. On 1 February, the firm revealed it had struck an agreement to buySage Products from Madison Dearborn Partners, in an all-cash transaction valued at almost $2.78 billion.
Physio-Control was founded in 1955 and develops, manufactures and markets monitors and defibrillators, automated external defibrillators (AEDs), and CPR-assist devices. It is also active in data management and support services.
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