Smiths Group agrees to sell medical division to US private equity firm
by Graeme Wearden from US news | The Guardian on (#5MWGV)
$2.3bn deal with TA Associates is latest in a series of UK acquisitions by overseas buyers
The UK engineering firm Smiths Group has agreed to sell its medical division to the US private equity firm TA Associates in a $2.3bn (1.7bn) deal, in the latest of a string of UK acquisitions by overseas buyers.
Smiths Medical makes ventilators, syringe pumps and tracheostomy tubes for hospitals worldwide, and its sale effectively breaks up the FTSE 100-listed engineering conglomerate.
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