(Reuters) — Medical equipment supplier Becton Dickinson & Co. (NYSE:BDX) is exploring a sale of its V. Mueller surgical instruments business following its $12 billion acquisition of peer CareFusion, according to people familiar with the matter.
Franklin Lakes, N.J.-based BD hired investment bank JPMorgan Chase & Co. to assist with a potential sale, which could fetch around $500 million, the sources said this week. They asked not to be named because the matter is private.
A Becton Dickinson representative said the company is conducting a strategic review of all of its businesses and no decisions have been made. A spokeswoman for JPMorgan declined to comment.
A sale would come as BD looks to shed non-core assets after its acquisition of CareFusion closed in March.
Becton Dickinson is also expected to sell its respiratory business later this year, the sources added.
Cost-related healthcare reforms, including those mandated under President Barack Obama’s Affordable Care Act, have spurred consolidation among U.S. health systems and hospitals, the main customers for suppliers of medical equipment.
Other large recent medical device deals include Medtronic‘s (NYSE:MDT) $43 billion acquisition of Covidien and Zimmer (NYSE:ZMH) planned $13 billion purchase of Biomet.