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Japan's Terumo making play for US medical device business

TOKYO -- Terumo is looking to purchase a portion of U.S.-based Abbott Laboratories' medical device business, part of efforts by the Japanese company to capitalize on rising global demand.

Abbott has put some operations on the auction block, and the Tokyo-based medical equipment maker has apparently made a bid for the cardiovascular device segment and other operations. A deal involving Terumo could be worth as much as 150 billion yen ($1.47 billion). Equity funds and other medical device makers may submit competing offers.

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