Baxter International Inc. is in talks to buy medical-equipment maker Hill-Rom Holdings Inc., according to people familiar with the matter.
The talks are at an early stage, some of the people said, and there is no guarantee a deal will be reached. Should there be one, it would be fairly substantial, as Hill-Rom has a market value of about $8 billion.
Hill-Rom has already rebuffed a $144-per-share bid from Baxter, some of the people said.
Baxter’s market value is around $41 billion.
Chicago-based Hill-Rom, founded in 1915, makes medical gear such as hospital beds and patient-monitoring devices.