Halyard Health hired investment bank Deutsche Bank to launch a sales process for the unit, sources told Reuters Monday. The sources — who note sales talks do not guarantee a divestiture — said a deal could be worth more than $600 million, according to the report.
The surgical and infection prevention unit represents Halyard Health’s largest business in terms of revenue, posting about $1 billion in sales for 2016. However, the unit’s sales have decreased year-over-year, limiting the company’s growth, reports Reuters. The divestiture would allow Haylard Health to shift focus away from hospital products to its medical device unit, which saw a 15 percent sales growth in the most recent quarter.
Halyard Health and Deutsche Bank did not immediately respond to Reuters’ request for comment.
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