Madison Dearborn Partners flips pharmaceutical asset for big profit. Former unit of Tyco's Covidian operation, specializing in providing respiratory treatments at at-risk infants, goes for $2.3 billion in latest transaction. Several PE firms were said to be among active bidders, though some dropped out along the way of the transaction. Madison Dearborn realizes three time return on unit it bought in February 2013. New owner is Mellkincrodt. Prior PE owners collected $425 million in dividends during ownership. Deal show continuing interest in purchases of health care assets. More deals in sector expected.
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