Fortune article Medical equipment makers Basinger, a privately held company that makes medical equipment and other medical equipment that is used by the U.S. military, has acquired the medical equipment company Cleansing Medical Equipment for $2.9 billion, the company announced today.
The deal was announced at the International Business Machines Convention (IBM) in Las Vegas.
Cleansings’ medical equipment was used in Afghanistan and Iraq to treat wounded soldiers and civilians.
The deal is subject to customary closing conditions and regulatory approvals.
Cleanings had previously made a $2-billion acquisition of medical equipment maker Medtronic in January, with the company saying it expects to complete a $1.9-billion deal with Basinger in the second half of 2019.
The announcement comes after Basinger acquired the UBS pharmaceutical division in March.
Basinger had been looking for a new buyer for its medical equipment business, which had been suffering from high inventory levels.
The company was already on the lookout for a buyer for medical equipment manufacturer Gilead Sciences, which was looking to buy a medical equipment unit.
The acquisition of CleansING could help the company avoid those problems.
A press release from the company said the acquisition will enable Basinger to “support our customers’ needs and provide them with enhanced financial support and a stronger operational base to support our mission.”
“Our acquisition of Basinger is another step in the company’s strategy to build on the momentum generated by the company during its 2016 acquisition of Medtronics, a leading medical device maker,” Cleanshing CEO Chris D’Agostino said in a statement.
“We will continue to invest in our customers to improve their capabilities and position them for continued growth in the years to come.”
The company was founded in 1998 and currently has operations in the U, Ireland, Canada and the U-K.
It has a global network of approximately 60,000 employees.