Kirkland Helps Bain Repurchase Physio-Control For $487M

Law360, New York (November 17, 2011, 7:24 PM EST) -- Sixteen years after taking Physio-Control Inc. public, Bain Capital LLC will pay $487 million to reacquire the company, a leading provider of cardiac defibrillators, from medical tech giant Medtronic Inc., the private equity firm announced Thursday.

Boston-based Bain first bought Physio-Control in 1994 from Eli Lilly & Co. and took it public the next year. Medtronic purchased Physio-Control in 1998 for $535 million, but has been seeking a buyer for the division since 2006, according to regulatory filings.

“Physio-Control is an impressive market leader that has...
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