Cardinal Health Reportedly In Talks To Buy Medtronic's Medical Supply Business

By Wallace WitkowskiMarketsMarketWatch Pulse

Cardinal Health Inc. is close to a $6 billion deal to acquire Medtronic PLC's medical supplies business, according to a report late Wednesday. Medtronic, which specializes in high-tech medical devices like heart stents and implantable heart defibrillators, acquired a large portfolio of products like syringes and surgical instruments from its $43 billion acquisition of Covidien in 2014. Medtronic and Cardinal are engaged in exclusive talks over the medical supplies business in a deal that could be announced later this month, according to Reuters. Medtronic shares advanced 1% to $81.05 after hours, while Cardinal shares were flat at $80.53.

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