May 2 2012
Covidien
plc (NYSE: COV), 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.
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