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Health

October 04, 1994|From Times Staff and Wire Reports

Baxter Selling Diagnostics Unit: Baxter International Inc., the leading maker of hospital supplies and medical devices, is selling its diagnostics manufacturing business to Bain Capital, an investment company, for about $448 million. The sale, for $408 million in cash and $40 million in preferred stock or debt, will help Baxter reduce its debt and focus on investments in other fields such as kidney therapy and biotechnology, the company said.

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