Covidien has announced that it has completed the previously announced acquisition of superDimension, for an aggregate consideration of approximately UD$300 million, with future earn out payments possible.
Pursuant to the terms of the acquisition agreement, Covidien has acquired all of the outstanding capital stock of superDimension, a private company based in Herzliya, Israel, that develops minimally invasive interventional pulmonology devices.
“Covidien’s strategy is to invest in relevant products and technologies which can meaningfully improve patient outcomes while reducing the overall cost of care,” said Bryan Hanson, group president, Surgical Solutions, Covidien. “The acquisition of superDimension positions Covidien to continue its investment in meaningful innovation by delivering more comprehensive solutions in the evaluation and management of lung diseases.”
Covidien will report the superDimension business in the Endomechanical product line within the Medical Devices segment.