U.S. medical device maker Covidien (COV: Quote) 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.
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by RTT Staff Writer
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