Bayer, the German multinational chemical and pharmaceutical firm, may be looking for a buyer for its radiology supplies unit, which is valued at more than $3 billion, reports Reuters. The company has said in the past that, while it doesn’t need additional assets to pay for its $62 billion bid for agricultural products provider Monsanto, it will continue to take a strategic look at its business units.
Contributing more than $1.7 billion in revenue, Bayer’s radiology business provides contrast agents and related injection equipment. Reuters reports that Werner Bauman, Bayer’s CEO, said in May that the company would continue to focus on its health care business, which includes stroke treatment Xarelto and aspirin.
For some historical perspective, Bayer sold its vascular catheters unit to Boston Scientific Corp. in 2014 for $415 million, and Panasonic Healthcare Holdings bought the company’s $1.13 billion blood glucose meter business in 2015.
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