Covidien Offers $108M for Newport MedicalThursday, March 22, 2012
Covidien PLC, a medical device maker, said today that it would buy Newport Medical Instruments Inc. in Costa Mesa for $108 million.
Newport, which had sales of some $40 million in 2011, makes ventilators used in hospitals and by home healthcare companies. Covidien, which is based in Ireland and operates from Massachusetts, said that the deal is expected to close in the second quarter.
Covidien bought Newport because its products and technology complement its current portfolio of respiratory devices and will broaden its worldwide platform, said Robert White, Covidien’s respiratory and monitoring systems president.