Johnson Matthey to sell medical device parts business for $700 mln

March 20 (Reuters) – Britain’s Johnson Matthey, which makes catalytic converters and pollution filters for cars, said on Wednesday it will sell its medical device components business to Montagu Private Equity for $700 million in cash.

The unit makes components for medical device manufacturers globally with a focus on precious metal alloys and nitinol. CEO Liam Condon told Reuters in November that the company was looking to off-load the business within six months.

(Reporting by Eva Mathews in Bengaluru; Editing by Janane Venkatraman )

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