Covidien plc (NYSE:COV) closed its $25-per-share buyout of Somanetics Corp. (NSDQ:SMTS), saying it can now own about 80 percent of the Troy, Mich.-based pulse oximetry maker.
The Mansfield, Mass.-based medical products conglomerate agreed to pay $250 million for Somanetics in June as part of its ongoing strategy to bolster businesses it thinks are poised to grow and jettison others that aren’t deemed a good fit.