Published on June 26, 2012 at 9:16 AM
Covidien (NYSE: COV), a leading global provider of healthcare products and recognized innovator in patient monitoring and respiratory care devices, today said that it has completed the previously announced acquisition of Oridion Systems Ltd. for an aggregate consideration of approximately $310 million, net of cash and investments acquired.
“The acquisition of Oridion will expand our portfolio with a key monitoring technology”
Pursuant to the terms of the acquisition agreement, Covidien has acquired all of the outstanding capital stock of Oridion Systems, based in Jerusalem, Israel. Oridion develops Microstream® capnography monitors and modules, in conjunction with specialized algorithms, as well as etCO2 breath sampling lines. Together, these products monitor adequacy of ventilation and provide an early indication of airway compromise to make patient care safer and easier.
"The acquisition of Oridion will expand our portfolio with a key monitoring technology," said Robert J. White, President, Respiratory & Monitoring Solutions, Covidien. "Oridion's products and technology will complement the Company's pulse oximeter and monitoring product lines, enabling us to offer a complete portfolio of solutions to monitor respiratory function for our customers."
Covidien will report the Oridion Systems business as part of its Oximetry & Monitoring product line in the Medical Devices segment.