Toshiba Looking To Sell Its Medical Unit, Expected To Receive 'Aggressive Bids'

According to Reuters, Toshiba Corp is looking to sell its entire medical equipment unit that could be valued at more than $3.5 billion.

Reuters, citing "people familiar with the sale process," stated that "aggressive bidding" could place a price tag of up to $4.4 billion for the unit given strong demand for medical businesses with high growth prospects. Meanwhile, Toshiba continues to struggle and a deal is seen as being "crucial" to bolsters its finances.

Reuters added that potential firms that may be interested in acquiring the unit include KKR & Co. L.P. KKR as well as Canon Inc, Fujifilm Holdings and Konica Minolta.

Finally, Reuters noted that deadlines for bids to acquire the unit is set for Friday.