Covidien's $300M Oridion Buy Latest In Shopping Spree

Law360, New York (April 5, 2012, 12:09 PM EDT) -- Covidien PLC continued its global buying spree with plans to pay $300 million in cash for Israeli medical device maker Oridion Systems Ltd., the Irish health care company said Thursday.

The acquisition is Covidien's third in three weeks, all aimed at bolstering its ventilation and breathing care product line, as the Dublin-based maker of health care products seeks to grab global market share.

Oridion had $64 million of revenue in 2011, and has averaged 17 percent growth in year-over-year sales since 2004, according to financial statements....
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