Covidien to buy ventilator manufacturer Newport Medical for $108M
Irish drug and medical device giant Covidien has announced that it is purchasing ventilator maker Newport Medical of Costa Mesa, Calif., for about $108 million.
The deal comes less than a week after Covidien acquired superDimension, an Israeli manufacturer of devices used to treat pulmonary problems, for $300 million.
Meanwhile, the company is in the process of spinning off its pharmaceuticals business into a standalone public company.
Covidien said the Newport Medical deal, which it expects to close in the second calendar quarter, will broaden its ventilation platform in established and emerging markets around the world.
The deal comes less than a week after Covidien acquired superDimension, an Israeli manufacturer of devices used to treat pulmonary problems, for $300 million.
Meanwhile, the company is in the process of spinning off its pharmaceuticals business into a standalone public company.
Covidien said the Newport Medical deal, which it expects to close in the second calendar quarter, will broaden its ventilation platform in established and emerging markets around the world.
Dave P. has worked in journalism, marketing and public relations for more than 30 years, frequently concentrating on hospitals, healthcare technology and Catholic communications. He has also specialized in fundraising communications, ghostwriting for CEOs of local, national and global charities, nonprofits and foundations.