Becton Dickinson (NYSE:BDX) is planning to close a Minnesota plant that makes its Lutonix drug-coated balloon next year, as the company looks to consolidate its peripheral intervention business.

The decision means layoffs for 53 of the New Hope, Minn., site’s 85 workers; the remaining 32 employees will either move to roles at BD’s Tempe, Ariz., location or work remotely, Franklin Lakes, N.J.-based BD said in a prepared statement. The closure is slated to into effect effective March 31, 2020.

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