• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

  • Latest News
  • Technologies
    • Artificial Intelligence (AI)
    • Cardiovascular
    • Orthopedics
    • Neurological
    • Diabetes
    • Surgical Robotics
  • Business & Finance
    • Wall Street Beat
    • Earnings Reports
    • Funding Roundup
    • Mergers & Acquisitions
    • Initial Public Offering (IPO)
    • Legal News
    • Personnel Moves
    • Medtech 100 Stock Index
  • Regulatory & Compliance
    • Food & Drug Administration (FDA)
    • Recalls
    • 510(k)
    • Pre-Market Approval (PMA)
    • MDSAP
    • Clinical Trials
  • Special Content
    • Special Reports
    • In-Depth Coverage
    • DeviceTalks
  • Podcasts
    • MassDevice Fast Five
    • DeviceTalks Weekly
    • OEM Talks
      • AbbottTalks
      • Boston ScientificTalks
      • DeviceTalks AI
      • IntuitiveTalks
      • MedtechWOMEN Talks
      • MedtronicTalks
      • Neuro Innovation Talks
      • Ortho Innovation Talks
      • Structural Heart Talks
      • StrykerTalks
  • Resources
    • About MassDevice
    • DeviceTalks
    • Newsletter Signup
    • Leadership in Medtech
    • Manufacturers & Suppliers Search
    • MedTech100 Index
    • Videos
    • Webinars
    • Whitepapers
    • Voices
Home » Report: Covidien to acquire superDimension for $350M | Wall Street Beat

Report: Covidien to acquire superDimension for $350M | Wall Street Beat

March 14, 2012 By MassDevice staff

MassDevice.com Wall Street Beat

Covidien (NYSE:COV) is set to close a $350 million buyout of Israeli lung diagnosis firm superDimension by the end of the week, according to Israeli business journal Calcalist.

Founded in Tel Aviv by Pinchas Gilboa, Minneapolis-based superDimension, which employs about 120 people worldwide, also has offices in Dusseldorf, Germany.

Yesterday rumors swirled on Wall Street about a possible buyout, with Johnson & Johnson (NYSE:JNJ) and Medtronic (NYSE:MDT) mentioned as potential suitors, alongside Covidien.

The company’s i-Logic electromagnetic navigation bronchoscope is used to diagnose pulmonary diseases like emphysema, cancer and tuberculosis, using a technology based on electromagnetic tracking, image processing and endoscopy. The sysem won CE Mark approval in the European Union in 2002 and 510(k) clearance from the FDA in 2004.

superDimension has drummed up about $120 million from backers, Calcalist reported, and posted sales of about $30 million last year. The company followed a $25 million funding round in September 2010 with an $11 million round a year later, according to the newspaper. Backers include Pitango, Medica Venture Partners, Orbimed, Pfizer, Axiom fund founder Efi Gildor, Evergreen, Gemini, Oxford Bioscience Partners, Mi3 and Fidelity, according to Calcalist.

"Covidien does not comment on market rumors or speculation," a spokeswoman told MassDevice.com via email.

 Medtronic files for senior note offering

Medtronic (NYSE:MDT) files a prospectus with the SEC for a debt offering of senior notes it expects to issue this month. Read more

 pSivida inks 2nd evaluation deal for Durasert eye implant

pSivida Corp. (NSDQ:PSDV) inked a technology evaluation deal for its Durasert implant, which is designed to deliver drugs to the back of the eye, with ophthalmic compound developer Neuron Systems. Read more

 Viking Systems expands China footprint

Viking Systems (OTC:VKNG) said its Chinese distributor bought a quartet of its 3DHD Vision systems for new training centers it’s opening in the People’s Republic. Read more

 BioDirection licenses Nanosys nanowire patents

Brain screening device maker BioDirection said it signed an exclusive licensing deal for Nanosys Inc.’s portfolio of nanowire patents and patent applications. Read more

 Cameron Health buyout points to med-tech M&A trend

Acquirers are increasingly opting for companies that have already assumed the risk of getting regulatory approvals, rather than earlier-stage firms, as evidenced by Boston Scientific’s (NYSE:BSX) buyout of already-CE-Marked Cameron Health for up to $1.35 billion.

"It’s important to point out that this product is approved in EU today and we expect FDA approval in the first half of 2013. So this is very different from some projects that will be 4-5 years before an FDA approval and several years before an EU approval," Joe Fitzgerald, president of BSX’s cardiac rhythm management arm, told MedCity News. "This presents much nearer-term revenue and market share opportunity for Boston Scientific and it fits very nicely with our deal model of when and what it will return to our shareholders." Read more

 Covidien, Kensey Nash announce dividends

Covidien (NYSE:COV) declared a quarterly cash dividend of 22.5¢ per share, payable May 7; Kensey Nash (NSDQ:KNSY) declared a cash dividend of 25¢ per share, payable May 31. Read more

 GPOs: Novation, Premier ink new hospital bed, HIT and wound care products

Novation signed a deal with Linet for its Eleganza line of medical surgical beds and Multicare ICU bed; Premier Healthcare Alliance inked deals with GE Healthcare (NYSE:GE) and Philips Healthcare (NYSE:PHG) for obstetrical data management systems and signed agreements for advanced wound care with BSN Medical, Eloquest Healthcare, Integrated Healing Technologies and Irrimax Corp. Read more

 Funding Roundup

  • CardioInsight closes $7.5M equity round
  • ViewRay closes $45M Series C round
  • Foundation Medical drops $3M on Functional Neuromodulation

 Analysts’ ups and downs

  • Covidien (NYSE:COV): Jefferies increases price target from $57 to $61, maintains "buy" rating.
  • Omeros (NSDQ:OMER): Canaccord Genuity upgrades from "hold" to "buy," increases price target from $5 to $13; Deutsche Bank raises rating to "buy" from "hold," raises price target from $6 to $11.

Filed Under: Diagnostics, Mergers & Acquisitions, News Well, Wall Street Beat Tagged With: BioDirection, Boston Scientific, BSN Medical, Cameron Health Inc., CardioInsight Technologies Inc., Covidien, Debt Financing, Eloquest Healthcare, Foundation Medical Partners, Functional Neuromodulation, GE Healthcare, Integrated Healing Technologies, Irrimax Corp., Kensey Nash Corp., Linet, Nanosys, Novation, Omeros Corp., Philips, Premier Inc., pSivida Corp., Pulmonary, SuperDimension Inc., ViewRay Inc., Viking Systems Inc.

More recent news

  • Breaking: Sequel to launch twiist automated insulin delivery system next month
  • Dexcom shares U.S. report on CGM benefits for type 2 diabetes
  • Data backs Medtronic MiniMed 780G for type 2, children as company seeks expanded indications
  • Endogenex data supports type 2 diabetes procedure
  • Ambu wins FDA clearance for first single-use cysto-nephroscope

Primary Sidebar

“md
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest med device regulatory, business and technology news.

DeviceTalks Weekly

See More >

MEDTECH 100 Stock INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
MDO ad

Footer

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion
Drug Discovery & Development
Pharmaceutical Processing World
MedTech 100 Index
R&D World
Medical Design Sourcing

DeviceTalks Webinars, Podcasts, & Discussions

Attend our Monthly Webinars
Listen to our Weekly Podcasts
Join our DeviceTalks Tuesdays Discussion

MASSDEVICE

Subscribe to MassDevice E-Newsletter
Advertise with us
About
Contact us

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy