Covidien finalises superDimension takeover
16 May 2012 00:00 in Medical Company Restructures
Covidien has announced the completion of its acquisition of superDimension, an Israel-based manufacturer of minimally-invasive interventional pulmonology devices.
An aggregate fee of $300 million (188.39 million pounds) has been paid to acquire all of the outstanding capital stock of superDimension, with future earn-out payments also possible.
Following the completion of this transaction, Covidien will report the superDimension business as part of its endomechanical product line within its medical devices segment.
This deal ties in with Covidien's strategy of investment in products and technologies that are potentially able to improve patient outcomes, while also reducing overall healthcare costs.
Bryan Hanson, group president for surgical solutions at Covidien, said: "The acquisition of superDimension positions Covidien to continue its investment in meaningful innovation by delivering more comprehensive solutions in the evaluation and management of lung diseases."
This comes after the company formed a five-year collaboration with GE Healthcare earlier this month that will incorporate Covidien measurement technologies into its partner's patient monitor products.
Other news stories from 16/05/2012
Read more in the Zenopa News Archive
How this news is generated
Story collated for Zenopa by the Adfero News Agency