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Originally published January 30, 2012 at 11:44 AM | Page modified January 30, 2012 at 6:27 PM

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Physio-Control's sale to Bain completed

Medtronics' sale of Redmond-based Physio-Control to private equity firm Bain Capital has been completed, Physio said Monday.

By Seattle Times business staff

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Medtronics' sale of Redmond-based Physio-Control to private equity firm Bain Capital has been completed, Physio said Monday.

The deal, valued at $487 million, was announced in November, nine months after Minneapolis-based medical device giant Medtronic said it planned to divest the maker of emergency-response equipment such as defibrillators.

Medtronic said at the time that Physio's profit margins weren't competitive with the parent company's other units. Physio's sales last year were $425 million, about even with the year before; Medtronic didn't break out Physio's profitability.

Brian Webster, a 22-year veteran of Physio-Control and its president under Medtronic, will serve as president and CEO.

The company employs Physio about 750 here and 1,200 worldwide.

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