Published on September 4, 2009 at 12:43 AM
Embla and Covidien have entered into a definitive agreement under which Embla will acquire Covidien's Sleep Diagnostic business. This includes the sleep diagnostic products sold under the Sandman(TM) brand name. Financial terms of the transaction were not disclosed. Completion of the sale is subject to customary closing conditions.
The combined entity will form the world's largest company to focus entirely on sleep diagnostics, with close to 1700 customers in North America and about 2500 worldwide. Embla offers market leading sleep diagnostic products, support and service.
Both Sandman and Embla have leading brand names in North America where it is estimated that over 40 million people suffer from some form of sleep disorder. Up to seventy percent of patients who have suffered a stroke and sixty percent of congestive heart failure patients also suffer from sleep disordered breathing.
"You can't open a newspaper or magazine today without seeing something about sleep. We know it impacts every aspect of our lives and this acquisition puts us at the forefront of the industry," said David Baker, President and CEO of Embla Systems.
Source: EMBLA SYSTEMS