Covidien has entered into a definitive agreement to purchase a developer of minimally invasive interventional pulmonology devices, superDimension.
Under the agreement, Covidien will purchase all of the capital stock of superDimension for approximately $300m, with future earn out payments possible.
The transaction including receipt of certain regulatory approvals is scheduled to be completed in the second quarter of 2012.
Covidien said assuming a second quarter 2012 closing, it expects this transaction not to have a material impact on its fiscal 2012 sales.
superDimension president and CEO Daniel Sullivan said this partnership will strengthen the company’s commercial infrastructure, expanding the benefits of the i-Logic system and electromagnetic navigation bronchoscopy to a wider patient population.
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.
The i-Logic system also facilitates more effective evaluation of lung lesions, potentially enabling safer, more effective tissue biopsies.