Covidien to acquire ventilator manufacturer

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Covidien to acquire ventilator manufacturer

Tuesday, March 27, 2012
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Dublin - Covidien, a leading global provider of healthcare products and recognized innovator in patient monitoring and respiratory care devices, announced a definitive agreement to acquire Newport Medical Instruments. Covidien will acquire all of the outstanding capital stock of Newport Medical, which is privately-owned and based in Costa Mesa, CA, for approximately $108 million. The transaction, subject to customary closing conditions, including receipt of certain regulatory approvals, is expected to be completed in the second calendar quarter of 2012. Newport Medical is a physician-led company, focused solely on the design and manufacture of dependable, life improving ventilators that are affordable for caregivers worldwide. Newport Medical’s products are sold in the United States and more than 115 countries worldwide. Once the transaction has been completed, Covidien will report the Newport Medical business as part of its Airway & Ventilation product line in the Medical Devices segment.