Covidien (NYSE: COV), a leading global provider of healthcare products, today announced that it had completed the previously announced sale of its Oxygen Therapy assets to Chart Industries, Inc. (NASDAQ: GTLS). Financial terms of the transaction were not disclosed.
The sale of the Oxygen Therapy product line, which includes products sold under the Companion™ and Helios™ brands, was made following a thorough review and evaluation of a number of strategic alternatives. The decision is consistent with Covidien’s strategy to streamline its portfolio and reallocate resources to its faster-growing, higher-margin businesses, where the Company has or can develop a global competitive advantage.