Covidien to buy interventional pulmonology specialist superDimension
20 March 2012 00:00 in Medical Company Restructures
Covidien has announced the acquisition of superDimension, a specialist developer of minimally invasive interventional pulmonology devices, for $300 million (189.24 million pounds).
The Israel-based business is responsible for developing the i-Logic System, a device which offers access to lesions deep in the lungs as well as mediastinal lymph nodes, generating around $30 million in annual sales.
superDimension's product uses electromagnetic navigation bronchoscopy technology to extend the reach of traditional bronchoscopes, thus enabling more effective biopsies and better evaluation of lung lesions.
The takeover is expected to be completed in the second quarter of 2012 and will see superDimension become part of Covidien's endomechanical portfolio.
Bryan Hanson, president of surgical solutions at Covidien, said: "The acquisition of superDimension will position Covidien to continue its investment in meaningful innovation by delivering more comprehensive solutions in the evaluation and treatment of lung diseases."
This week also saw the company appoint Richard DeRisio as its new vice-president, for global quality assurance and regulatory affairs, effective immediately.
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Story collated for Zenopa by the Axonn News Agency