Covidien plc, a medical device maker legally based in Ireland but run from Mansfield, reports it has completed its tender offer through a subsidiary, Covidien DE Corp., to purchase all of the outstanding common shares of Somanetics Corp. of Michigan in a deal that would be worth about $250 million.
According to officials, about 80 percent of Somanetics’ common shares -- or about 9.6 million -- were tendered and available for Covidien (NYSE: COV) to purchase. In June, Covidien offered $25 per share for the available common stock.
Somanetics makes devices used in cerebral and somatic oximetry. The company had sales of $50 million in 2009 and has approximately 150 employees. Its INVOS, a noninvasive patient monitor, measures blood oxygen levels in the brain and in the body of patients who are at risk for restricted blood flow.
In early June, Covidien announced plans to acquire ev3 Inc. , a Minneapolis company that develops peripheral vascular and neurovascular technologies, for $2.6 billion. Under the agreement, Covidien will pay $22.50 in cash for each ev3 share for a total of approximately $2.6 billion, net of cash acquired.
Covidien reported 2009 revenue of $10.7 billion. In May, Covidien said it was selling its speciality chemicals division  for $280 million cash to an affiliate of New Mountain Capital LLC, a New York private equity firm.