Medtronic has completed the previously announced sale of a number of its businesses to Cardinal Health, including its Deep Vein Thrombosis (compression) division. The transaction was worth US$6.1 billion.
The company has also sold its Patient Care and Nutritional Insufficiency businesses within the Patient Monitoring & Recovery (PMR) division of its Minimally Invasive Therapies Group (MITG) to Cardinal Health.
According to a press release, Medtronic expects modest dilution on a net basis to its fiscal year 2018 non-GAAP earnings per share of approximately US$0.18, given the transaction closed at the beginning of the company’s second fiscal quarter.
Medtronic intends to provide historical comparable financials, incorporate the divestiture into its fiscal year 2018 financial guidance, and discuss the financial impact of the divestiture when it reports its first fiscal quarter financial results.