J&J-backed HistoSonics explores sale at $2.5 billion valuation, FT reports
May 2 (Reuters) - HistoSonics, a medical technology company backed by Johnson & Johnson JNJ.N, is exploring a potential sale at a valuation of more than $2.5 billion after receiving multiple takeover offers, the Financial Times reported on Friday.
Medtronic MDT.N, GE HealthCare GEHC.O and J&J itself are evaluating the business, the FT reported, citing people familiar with the matter.
Final bids are expected in the coming weeks, though a deal is not guaranteed, the report said, adding that Citigroup is advising HistoSonics on the sale.
The company, which developed a sonic beam therapy to target liver tumors, had also explored a public listing but a sale was prioritized as market volatility has hampered IPO activity, the FT said.
J&J and HistoSonics did not immediately reply to Reuters requests for comment outside regular business hours.
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