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| Toshiba’s Tokyo headquarters–Courtesy of Toshiba |
Long-beleaguered Toshiba is planning on selling its entire medical equipment unit as it grapples with rising restructuring costs. The move comes as the Japanese company attempts to recover from an accounting scandal that has taken a hefty toll on business.
Toshiba had previously said it would sell at least 51% of the medical unit.
The sale of the entire unit could fetch between ¥400 billion to ¥500 billion ($3.5 billion to $4.4 billion). But a deal could reach ¥650 billion as companies look for medical device businesses with strong growth prospects, people familiar with the matter told Reuters. Toshiba Medical generates more than $3 billion in annual sa…
Read the full article at: http://www.fiercemedicaldevices.com/story/battle-worn-toshiba-mulls-sale-medical-business-amid-rising-restructuring-c/2016-02-29