Physio Control President Brian Webster, who will become CEO under Bain’s ownership, said the sale means Physio “will be definitely adding staff in the short term” in a few areas like finance that were previously handled by Medtronic. The company has 650 workers in Redmond and 400 more worldwide, plus nearly 200 contract employees.

In the longer term, the company hopes some recent forays into new types of emergency treatment equipment will add momentum to sales that held steady at $425 million in the past two fiscal years.

“We’ve got nice growth prospects and we’re pretty excited about the future,” said Webster. Physio is profitable, he said, declining to disclose any specifics.

The sale is expected to close in the first quarter of 2012.