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US/UK: Healthcare tech conglomerate may use merger to shift overseas

By  |  June 5, 2014

Leading healthcare technology firm Medtronic is reportedly looking to acquire UK-based Smith & Nephew, a deal reports say could shift Medtronic’s finances overseas.

The US firm, which is the largest manufacturer of heart rhythm technologies, is evaluating a possible acquisition of the London company, which currently has a market value of nearly $16 billion. While unnamed sources first broke news of the possible merger, they noted that a deal has not been struck and preparations for a bid are only in their preliminary stage.

But a Medtronic offer for Smith & Nephew would rival one from rival US medial tech company Stryker, which confirmed last week that it was also considering placing a bid for the UK company./p>

Full content: Bloomberg

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