logo
Share SHARE
FONT-SIZE Plus   Neg

Covidien Agrees To Buy Israeli Medical Device Maker

U.S. medical device maker Covidien (COV) has reached a definitive agreement to acquire Super-Dimension, the Israeli manufacturer of pulmonary devices. The purchase price for the deal is nearly $300 million, with some future payments possible, contingent on the performance of the company.

Super-Dimension's i·main product is its Logic System, which uses Electromagnetic Navigation Bronchoscopy. This high-tech method of navigation allows health professionals access to lesions deep in the lungs as well as in mediastinal lymph nodes.

The acquisition may close in the second calendar quarter of 2012.

Assuming a second calendar quarter 2012 closing, Covidien does not anticipate this transaction to have a material impact on its fiscal 2012 sales. Upon the close of the transation, Covidien would report the superDimension business in the Endomechanical product line within the Medical Devices segment.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Saudi Arabia is reportedly considering to list its state-run oil behemoth Saudi Aramco in New York Stock Exchange. According to a WSJ report, citing people familiar with the matter, Aramco prefers to float its shares on the NYSE, or in London or Toronto after discussion to list on an Asian stock exchange... Anglo-Australian mining giant BHP Billiton plc reported Tuesday a profit in its first half, compared to last year's hefty loss on sharply lower one charges. Underlying EBITDA, a key earnings metric, climbed 65 percent with higher production and prices. The company further lifted its dividend by 150 percent. Shares of HSBC Holdings Plc declined around 4 percent in Hong Kong trading after the Asia-focused lender reported wider net loss in its fourth quarter amid weak net interest income. Further, the company maintained its dividend, and said its Board plans a further $1.0 billion share buy-back, which is expected to complete in the first half of 2017.
comments powered by Disqus
Follow RTT