Covidien Plc. (NYSE:COV) announced a new agreement for a five year $1.5 billion senior unsecured revolving credit facility, secured through subsidiary Covidien International Finance S.A.
The new agreement replaces a prior five-year senior credit facility that was slated to mature in April 2012, and the funds will be allocated for general corporate purposes, including working capital and capital expenditures.
Listen to our recent interview with Covidien CEO Joe Almeida
The prior agreement was terminated early, according to SEC filings
Last week the Mansfield, Mass.-based company also announced a $2 billion stock repurchase program.
Here’s a roundup of other dealflow and investment news:
- SironRX announces lands $3.4 million
Cleveland, Ohio-based wound therapy startup SironRX Therapeutics announced that it raised $3.4 million in series A funding lead by North Coast Angel Fund. The company closed a $2.3 million round in May.
- NuVasive repurchases $119 million in notes
San Diego, Calif.-based spinal company NuVasive Inc. (NSDQ:NUVA) repurchased $119 million of its outstanding 2.25 percent convertible senior notes in privately negotiated transactions throughout August, according to SEC filings.
- ReGear lands $500,000 in equity round
Pittsburgh-based pain management company ReGear Life Sciences Inc. raised $500,000 of a $750,000 funding round spread across two investors, according to SEC filings. The company, whose revenues are below the $1 million mark, raised the funds from an existing angel investor and from private equity firm Stonewood Capital Mgmt., the Pittsburgh Business Journal reported.
- Fluidnet raises $19.8 million of a $25 million equity round
Amesbury, Mass.-based intravenous systems maker Fluidnet Corp. raised $19.8 million of a $25 million equity funding round spread across 19 unnamed investors, SEC filings show.
- IntriCon extends revolving credit facility to $4 million
Arden Hills, Minn.-based wearable devices maker IntriCon Corp. (NSDQ:IIN) amended its credit facility to $4 million and extended its maturation date to August 2014.
- TransMedics touts $6 million of a $22.5 million round
Andover, Mass.-based organ transport system maker TransMedics Inc. raised $6 million of a planned $22.5 million in an equity round spread across 9 investors.
Here’s a roundup of companies announcing mergers, acquisitions and divestitures.
- Neoprobe shareholders okay gamma detection business sale to Devicor
Cancer diagnostics firm Neoprobe Corp. (NYSE Amex:NEOP) unveiled the results of its 2011 annual shareholder meeting, where shareholders agreed to selling the company’s GDS gamma detection business to Devicor, a deal that was announced in May of this year.
- Speech recognition company Nuance nabs Loquendo
Burlington, Mass.-based medical voice recognition and transcription software developer Nuance Communications (NSDQ:NUAN) announced an agreement to acquire Loquendo, which develops a range of speech technologies for phone, mobile, automobile and desktop computer platforms in 32 languages. The terms of the acquisitions were not made public. Read MassDevice’s interview with Nuance VP of health care solutions marketing Carina Edwards from July.
- Immucor announces end of go-shop period
Norcross, Ga.-based Immucor Inc. (NSDQ:BLUD) announced the expiration of the go-shop period in its $2 billion acquisition by private equity firm IVD Acquisition Corp., an affiliate of TPG Capital.
Here’s a roundup of companies announcing new distribution deals and other joint ventures.
- Innovative Orthopaedic Devices retains Hatch Medical as broker
Duluth, Ga.-based Innovative Orthopaedic Devices Inc. retained Surfside, Fla.-based Hatch Medical LLC to broker the sale of two of its orthopedic technologies, the Leban-Gordon self-powered surgery driver and the ExFix infinitely adjustable external fixator. The terms of the agreement were not made public.
- pSivida and Hospital for Special surgery explore devices for orthopedics
Watertown, Mass.-based eye implant maker pSivida Corp. (NSDQ:PSDV) announced an evaluation agreement with orthopedics, rheumatology and rehabilitation company Hospital for Special Surgery to investigate using pSivida’s technologies in orthopedics.