Covidien Gains Ventilators Aimed At Emerging Markets Via Newport Deal
This article was originally published in The Gray Sheet
Acquisition worth $108 million expands Covidien’s ventilator offerings, will help meet “growing customer demand in faster-growing emerging markets,” the company says.
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Medical device company financing brought in $977 million, a decrease over Q1’s $1.1 billion. Device acquisition activity was up to $4.6 billion, yet only one deal surpassed the billion-dollar mark. With late-stage financing again leading, diagnostics funding together brought in $336 million, an 11% increase over Q1. For the first time since Q1 2011, the diagnostics M&A dollar total moved up instead of down, with $7 billion in acquisitions and five of the seven transactions topping $100 million.
Medical device companies raised $1.1 billion, a 40% increase over Q4 2011’s $800 million. Two billion-dollar deals in the resuscitation market boosted device acquisition activity to $4.2 billion. Twenty diagnostics financings brought in a collective $302 million, soaring above the previous quarter’s $269 million. There were seven diagnostics M&A deals completed, totaling $589 million – down yet again.
Newly acquired Oridion Microstream exhaled carbon dioxide measurement technology dovetails with Covidien’s pulse oximetry and other patient monitoring products.