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
A California man has filed a lawsuit against McDonald's alleging that the fast food giant is defrauding customers by cramming its mozzarella sticks with filler instead of real cheese. Chris Howe is seeking at least $5 million in damages on behalf of consumers in 42 states and the District of Columbia. The... Jeep, the 4x4 vehicles, which has developed a strong bond with its masters, is aggressively on an expansion mode in its 75th anniversary year. Its fans have always been in love with the famous tag "Go Anywhere, Do Anything." Meat products maker Tyson Foods Inc. (TSN) reported a profit for the first-quarter that increased 49% from last year. It raised its profit outlook for fiscal year 2016 ,but it cut its annual sales guidance.
comments powered by Disqus
Follow RTT