TPG and Blackstone plan to sell their Hololodge Medical Surgery business, with a target valuation of over $4 billion USD.

The Financial Times of the UK quotes sources familiar with the matter as saying that TPG and Blackstone are planning to sell the surgical business unit of Hologic, seeking a transaction price of over $4 billion to repay debt and recover funds from last year's acquisition of the medical technology company. The asset sale process is still in the early stages and a deal may not ultimately be reached. In April of this year, TPG and Blackstone, together with the Mubadala Investment Company and the Singapore government investment company, completed the privatization acquisition of Hologic for $18.3 billion.