Back in early April we reported the news that Covidien was acquiring another Israeli medical device company, Oridion Systems Ltd in the quest to broaden its ventilation and airway management portfolio. Now the company says it has completed the acquisition for an aggregate consideration of approximately $310 million, net of cash and investments acquired.
Pursuant to the terms of the acquisition agreement, Covidien has acquired all of the outstanding capital stock of Oridion Systems, based in Jerusalem, Israel. Oridion develops Microstream® capnography monitors and modules, in conjunction with specialised algorithms, as well as etCO2 breath sampling lines. Together, these products monitor adequacy of ventilation and provide an early indication of airway compromise to make patient care safer and easier.
“The acquisition of Oridion will expand our portfolio with a key monitoring technology,” said Robert J. White, President, Respiratory & Monitoring Solutions, Covidien. “Oridion’s products and technology will complement the Company’s pulse oximeter and monitoring product lines, enabling us to offer a complete portfolio of solutions to monitor respiratory function for our customers.”
Source: Covidien, Business Wire