Healthcare giant Medtronic, who operates a plant in Tullamore, has sold its medical supplies business to rival Cardinal Health. 17 Medtronic facilities will be sold as part of the deal, which will cost Cardinal Health around €5.7 billion.
The Medtronic plant in Tullamore is located in the Sragh Industrial Estate and currently employs about 350 staff, including contractors. The news follows a company restructuring last year, and staff have now been briefed on Tuesday about the multi-billion euro transaction.
The acquisition involves 17 plants across a number of countries. The business sells everything from needles and catheters to monitoring equipment and medical instruments.
Medtronic says it’s a “positive transaction” for all involved including employees who it believes will "thrive" under the change in ownership.