Covidien Completes Acquisition of superDimension, Ltd.
DUBLIN--(BUSINESS WIRE)--May 15, 2012-- Covidien (NYSE: COV), a leading global provider of healthcare products, today announced that it has completed the previously announced acquisition of superDimension, Ltd., for an aggregate consideration of approximately $300 million, with future earn out payments possible.
Pursuant to the terms of the acquisition agreement, Covidien has acquired all of the outstanding capital stock of superDimension, a private company based in Herzliya, Israel, that develops minimally invasive interventional pulmonology devices.
"Covidien's strategy is to invest in relevant products and technologies which can meaningfully improve patient outcomes while reducing the overall cost of care," said Bryan Hanson, Group President, Surgical Solutions, Covidien. "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." Covidien will report the superDimension business in the Endomechanical product line within the Medical Devices segment.
ABOUT COVIDIEN Covidien is a leading global healthcare products company that creates innovative medical solutions for better patient outcomes and delivers value through clinical leadership and excellence. Covidien manufactures, distributes and services a diverse range of industry-leading product lines in three segments: Medical Devices, Pharmaceuticals and Medical Supplies. With 2011 revenue of $11.6 billion, Covidien has 41,000 employees worldwide in more than 65 countries, and its products are sold in over 140 countries. Please visit www.covidien.com to learn more about our business.
CONTACT: Covidien Marta Newhart, 562-537-0272 Vice President Communications email@example.com or Bruce Farmer, 508-452-4372 Vice President Public Relations firstname.lastname@example.org or Cole Lannum, CFA, 508-452-4343 Vice President Investor Relations email@example.com or Todd Carpenter, 508-452-4363 Director Investor Relations firstname.lastname@example.org KEYWORD: UNITED STATES EUROPE NORTH AMERICA NEW YORK MIDDLE EAST IRELAND ISRAEL INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY MEDICAL DEVICES PHARMACEUTICAL MEDICAL SUPPLIES SOURCE: Covidien Copyright Business Wire 2012 PUB: 05/15/2012 04:00 PM/DISC: 05/15/2012 04:00 PM http://www.businesswire.com/news/home/20120515006971/