Covidien has purchased a developer of minimally invasive interventional pulmonology devices, superDimension, for $300m, with future earn out payments possible.
Pursuant to the terms of the agreement, Covidien has purchased all of the capital stock of superDimension.
Covidien will add superDimension’s business to its Endomechanical product line within the medical devices segment.
Covidien surgical solutions group president Bryan Hanson said the company’s strategy is to invest in relevant products and technologies which can meaningfully improve patient outcomes while reducing the overall cost of care.
"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," Hanson added.