Covidien to pay $250 million for Somanetics
June 16, 2010 by MassDevice staff
Covidien plc agrees to pay $250 million in cash to acquire oximetry device maker Somanetics Corp. at $25 per share.
Covidien plc (NYSE:COV) continued to streamline its medical device operations with the latest acquisition in a series of buys and sells: a $250 million cash buyout of oximetry equipment maker Somanetics Corp. (NSDQ:SMTS).
The Mansfield, Mass.-based medical products conglomerate agreed to pay $25 per share, or $250 million, for Troy, Mich.-based Somanetics.
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