Alpharetta, GA-based Halyard Health will divest its India subsidiary surgical business to Virginia-based Owens & Minor for $710 million — a transaction that confirms investor appetite and growing opportunities in India’s healthcare sector.
The sale gives Halyard a singular focus on its medical devices business. The company said it would benefit from “a more simplified structure, enhanced management focus and significant firepower to invest in growth” through research and development and M&A.
Halyard will provide IT and other transition services to Owens & Minor for at least one year after closing the deal as they integrate the acquired Surgical and Infection Prevention business. Owens & Minor will also offer transition services to Halyard.
