Covidien finalizes sale of sleep therapy product line to Luxembourg investor

COVIDIEN PLC finalized the sale of its sleep therapy product line on Monday for an undisclosed amount. /
COVIDIEN PLC finalized the sale of its sleep therapy product line on Monday for an undisclosed amount. /

MANSFIELD, Mass. – Medical-device maker Covidien Plc, headquartered in Ireland and based for U.S. operations in Mansfield, Mass., finalized the sale of its sleep therapy product line, Mass High Tech reported Monday.

Covidien sold the line, comprised of continuous-positive-airway-pressure and bi-level products for an undisclosed amount to PH Capital Invest, an investment firm based in Luxembourg.

The company had originally announced the sale in June as part of a series of divestment and acquisition deals to “streamline” its profile. Covidien acquired ev3 Inc., a vascular technologies company in Minnesota, in July.

The sleep products sale included manufacturing facilities in France, commercial operations in Europe and products sold under the GoodKnight and Sandman brands.

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The transaction is not expected to affect the group’s operating incoming or earnings per share for the fiscal year 2010 or 2011, Mass High Tech said. Covidien reported $10.7 billion in revenue for 2009.

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