Cosmetics giant Avon Products Inc. announced that...

Cosmetics giant Avon Products Inc. announced that it was selling its Foster Medical unit for $228 million and taking a $30-million loss in the transaction. Foster Medical, an equipment rental business and the biggest piece in Avon's health-care division, has been plagued with troubles since Avon acquired it in 1984 for $215 million. Last year, Avon took a $100-million charge to consolidate Foster's warehouses and branches. Avon said the sale of Foster to Abbey Medical, the Fountain Valley-based subsidiary of Canada's VenTech Healthcare Corp., did not represent a reversal in Avon's strategy to expand in the health-care business.

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