JnJ backed HistoSonics explores sale at USD 2.5 billion valuation: Report
Johnson & Johnson backed HistoSonics is exploring a potential sale at a valuation of over USD 2.5 billion, following a wave of acquisition interest, according to a Financial Times report.
According to the report, Medtronic , GE HealthCare and J&J itself are evaluating the business.
Final bids are expected in the coming weeks, Reuters reported. However, a deal is not guaranteed, the report said.
Citigroup is advising HistoSonics on the sale, the report added.
The company, which developed a sonic beam therapy to target liver tumors, had also explored a public listing but a sale was prioritized as market volatility has hampered IPO activity, the FT said.
J&J and HistoSonics did not immediately reply to Reuters requests for comment outside regular business hours.
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