Covidien To Shell Out $108M For Ventilator Maker

Law360, New York (March 23, 2012, 2:14 PM EDT) -- Irish health care company Covidien PLC plans to scoop up California-based ventilator manufacturer Newport Medical Instruments Inc. for $108 million, in a deal that will boost its presence in emerging markets, Covidien said Thursday.

Per a definitive agreement with the privately owned Newport Medical, Covidien will finance the deal with cash on hand and will add the business to its airway and ventilation product line in the medical devices segment. The transaction is expected to close by around June, according to the company.

“This acquisition is...
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