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Mar 21, 2012

Covidien : Definitive Agreement to Acquire superDimension, Ltd.

Mar. 19, 2012-- Covidien (NYSE: COV), a leading global provider of healthcare products, announced a definitive agreement to acquire superDimension, Ltd., a private company based in Herzliya, Israel, that develops minimally invasive interventional pulmonology devices.

Covidien will acquire all of the outstanding capital stock of superDimension Ltd., for approximately $300 million, with future earn out payments possible. The transaction, subject to customary closing conditions, including receipt of certain regulatory approvals, is expected to be completed in the second calendar quarter of 2012.

With annual sales of approximately $30 million, superDimension’s i·Logic™ System uses Electromagnetic Navigation Bronchoscopy® to provide minimally invasive access to lesions deep in the lungs as well as mediastinal lymph nodes. By extending the reach of conventional bronchoscopes, the i·Logic System facilitates more effective evaluation of lung lesions, potentially enabling safer, more effective tissue biopsies... Covidien's Press Release -