Bain Capital agrees $1.28bn sale of Physio-Control

The buyer is New York-listed Stryker Corporation and marks the company's second urgent care deal this month following an agreement to buy Sage Products from Madison Dearborn Partners.

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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