DUBLIN–(BUSINESS
WIRE)–Covidien plc, a leading global provider of healthcare
products and recognized innovator in patient monitoring and respiratory care
devices, today announced that it has completed the previously announced
acquisition of Newport Medical Instruments, Inc. for an aggregate consideration
of approximately $108 million, net of cash and short-term investments acquired.
Pursuant to the terms of the acquisition agreement, Covidien
has acquired all of the outstanding capital stock of Newport Medical, a private
company based in Costa Mesa,
CA. Newport Medical designs and manufactures dependable, life improving
ventilators that are affordable for caregivers worldwide.
“This is an exciting day for both Covidien and Newport
Medical,” said Robert J. White, President, Respiratory & Monitoring
Solutions, Covidien. “Newport’s
products and technology complement our current portfolio of respiratory
solutions and will broaden our ventilation platform for patients around the
world, particularly in emerging markets.”
Covidien will report the Newport Medical business as part of
its Airway & Ventilation product line in the Medical Devices segment.
About Covidien
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.
