DUBLIN--(BUSINESS WIRE)--May. 15, 2012--
(NYSE: COV), a leading global provider of healthcare products, today
announced that it has completed the previously announced acquisition of
superDimension, Ltd., for an aggregate consideration of approximately
$300 million, with future earn out payments possible.
Pursuant to the terms of the acquisition agreement, Covidien has
acquired all of the outstanding capital stock of superDimension, a
private company based in Herzliya, Israel, that develops minimally
invasive interventional pulmonology devices.
“Covidien’s strategy is to invest in relevant products and technologies
which can meaningfully improve patient outcomes while reducing the
overall cost of care,” said Bryan Hanson, Group President, Surgical
Solutions, Covidien. “The acquisition of superDimension positions
Covidien to continue its investment in meaningful innovation by
delivering more comprehensive solutions in the evaluation and management
of lung diseases.”
Covidien will report the superDimension business in the Endomechanical
product line within the Medical Devices segment.
Covidien is a leading global healthcare products company that creates
innovative medical solutions for better patient outcomes and delivers
value through clinical leadership and excellence. Covidien manufactures,
distributes and services a diverse range of industry-leading product
lines in three segments: Medical Devices, Pharmaceuticals and Medical
Supplies. With 2011 revenue of $11.6 billion, Covidien has 41,000
employees worldwide in more than 65 countries, and its products are sold
in over 140 countries. Please visit www.covidien.com
to learn more about our business.
Marta Newhart, 562-537-0272
Lannum, CFA, 508-452-4343