April 5, 2012 / 5:32 AM / 6 years ago

Covidien to buy Oridion Systems for about $300 million

(Reuters) - U.S. healthcare products and medical device maker Covidien COV.N said it would buy Israel-based Oridion Systems ORIDN.S for about $300 million in cash.

As per the deal, a wholly owned subsidiary of Covidien will pay $23 per Oridion share and the company said the deal is not expected to have a material impact on its fiscal 2012 sales.

“Oridion’s products are excellent complements to the company’s current portfolio of pulse oximeters and monitoring products,” Robert White, president, Covidien’s Respiratory & Monitoring Systems, said in a statement.

Covidien will report the Oridion systems business as part of its oximetry & monitoring product line.

The companies expect to complete the deal in the second calendar quarter of 2012.

Reporting by Sakthi Prasad; Editing by Matt Driskill

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below