Healthcare products provider Covidien plc (NYSE: COV) today said that it has completed the previously announced acquisition of Oridion Systems Ltd. for an aggregate consideration of about $310 million, net of cash and investments acquired.
In line with the terms of the acquisition agreement, Covidien has acquired all of the outstanding capital stock of Oridion, which is based in Jerusalem. Oridion develops respiratory monitoring devices. These include capnography monitors and modules with specialized algorithms, and CO2 breath sampling lines. These products monitor ventilation adequacy and provide an early indication of airway compromise to make patient care safer and easier.
Covidien president respiratory and monitoring solutions Robert J. White said, “The acquisition of Oridion will expand our portfolio with a key monitoring technology. Oridion’s products and technology will complement the company’s pulse oximeter and monitoring product lines, enabling us to offer a complete portfolio of solutions to monitor respiratory function for our customers.”
Covidien will report the Oridion Systems business as part of its Oximetry and Monitoring product line in the Medical Devices segment.
Published by Globes [online], Israel business news - www.globes-online.com - on June 26, 2012
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