Bristol-Myers to sell imaging unit
From Times Wire Services
Drug developer Bristol-Myers Squibb Co. said it would sell its medical imaging unit to private equity firm Avista Capital Partners for about $525 million.
The unit makes and sells medical imaging products used in ultrasound and diagnostic procedures. It went on sale this month when the New York-based company announced restructuring moves.
The medical imaging unit’s biggest product, Cardiolite, had sales of $408 million in 2006, but the product faces increased generic competition after a key patent expires in 2008.
