Covidien Shells Out $300M For Israeli Medical Device Maker

Law360, New York (March 19, 2012, 1:35 PM EDT) -- Irish health care company Covidien PLC has acquired an Israel-based health care device maker that manufactures lung care products for $300 million, Covidien said Monday.

Covidien said it had agreed to acquire all of the outstanding stock of Herzliya, Israel-based superDimension Ltd., which operates through its wholly owned U.S. subsidiary superDimension Inc. in Minneapolis.

Future earn-out payments by Covidien are possible under the terms of the contract, the Irish company said. The transaction is expected to close in the second quarter of 2012.

Bryan Hanson, president...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.