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.

COV, SMTS logos

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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