Covidien (NYSE: COV) closed the deal to sell its oxygen therapy line to Chart Industries Inc. for an undisclosed amount, part of its move to streamline operations and focus on faster-growing, higher-margin businesses.
The Mansfield, Mass.-based medical device maker said the sale includes its Companion and Helios brands. The deal with Garfield Heights, Ohio-based Chart Industries is part of a trio of deals Covien announced in March, including a buyout of its to Broomfield, Colo.-based Embla (also on undisclosed terms) and a proposal for the disposition of its its sleep therapy product line. The Embla sale closed in late September.
All three lines generated about $175 million in sales last year and about $100 million during the first three quarters of 2009.
