Mallinckrodt Selling CMDS Business to Guerbet for $270 Million

Mallinckrodt is selling its global contrast media and delivery systems business to French medical imaging firm Guerbet for $270 million.

The transaction aligns with Mallinckrodt’s strategy to streamline its portfolio and focus resources on higher-growth, higher-margin specialty brands and its generic business, the drugmaker says.

According to Mallinckrodt President and CEO Mark Trudeau, Guerbet, with its industry experience and strong European and South American footprint, is situated to maximize the value of the CMDS business. In the first six months of fiscal 2015, the segment brought in sales of $210 million.

The deal is expected to close in the next few months. — Kellen Owings