April 5, 2012 / 5:22 AM / 6 years ago

UPDATE 1-Covidien to buy Oridion Systems for about $300 mln

April 5 (Reuters) - U.S. healthcare products and medical device maker Covidien said it would buy Israel-based Oridion Systems 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.

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