Datascope Corp. Selling Unit to Mindray

Datascope said it will keep about $38 million of receivables generated by the business.

The company expects cash proceeds of about $185 million after taxes and other expenses. Datascope plans to return the proceeds to shareholders either through the repurchase of stock, special dividends or other action yet to be determined.

Pending regulatory approval, the deal is expected to close during the second calendar quarter, the company said.

Following the close of the sale, Datascope will be comprised of two primary business segments, Cardiac Assist and InterVascular.