logo
Share SHARE
FONT-SIZE Plus   Neg

Covidien To Acquire Newport Medical Instruments For About $108 Mln - Quick Facts

Covidien plc. (COV) announced a definitive agreement to acquire Newport Medical Instruments, Inc, which is privately-owned and based in Costa Mesa, CA, for approximately $108 million.

The transaction, subject to customary closing conditions, including receipt of certain regulatory approvals, is expected to be completed in the second calendar quarter of 2012.

Newport Medical is a physician-led company, focused solely on the design and manufacture of dependable, life improving ventilators. Newport Medical's products are sold in the United States and more than 115 countries worldwide.

Assuming a closing in the second calendar quarter of 2012, Covidien said that it does not expect this transaction to have a material impact on its fiscal 2012 sales, operating margin or earnings per share.

Once the transaction has been completed, Covidien will report the Newport Medical business as part of its Airway & Ventilation product line in the Medical Devices segment.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Oil company Exxon Mobil Corp. on Friday reported a 59 percent fall in profit for the second quarter from last year, while Chevron Corp. reported a loss for the quarter, both on lower revenues. The results of both companies were impacted by the low crude oil and natural gas prices as well as weaker refining margins. Merck & Co Inc. (MRK) reported a second-quarter profit that climbed 75 percent from last year, while quarter sales rose 1 percent. The prior year result included foreign exchange losses of $715 million related to the devaluation of the company's net monetary assets in Venezuela. The company raised the bottom end of its full-year 2016 non-GAAP earnings per share outlook. Xerox (XRX) reported second-quarter adjusted EPS of $0.30, a 7 cent increase over the same period last year driven by a lower tax rate, fewer shares, and higher operating profits. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.25 for the quarter....
comments powered by Disqus
Follow RTT