BIOTECHNOLOGY

Covidien completes Oridion acquisition

COURTESY COVIDIEN LTD.
MED-TECH MAKER Covidien Ltd. has completed its acquisition of Oridion Systems Ltd., the company announced Tuesday.
Posted 6/27/12

MANSFIELD – Medical device maker Covidien PLC has completed its acquisition of Oridion Systems Ltd., the company announced Tuesday.

Covidien acquired Oridion for approximately $310 million, net cash and investments.

Pursuant to the terms of the agreement, Covidien has acquired all outstanding capital stock from the Jerusalem-based med-tech maker.

Oridion develops Microstream capnography monitors and modules as well as etCO2 breath sampling lines and specialized algorithms.

“The acquisition of Oridion will expand our portfolio with a key monitoring technology,” Robert J. White, Coviden’s president of respiratory and monitoring solutions, said in prepared remarks.

“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,” added White.

Covidien will report Oridion’s business under its medical device segment as part of its oximetry and monitoring product line.

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