Create a free Manufacturing.net account to continue

Covidien Buying Newport Medical Instruments

Irish drug and medical device maker Covidien PLC said it is buying ventilator maker Newport Medical Instruments Inc. for about $108 million.

NEW YORK (AP) -- Irish drug and medical device maker Covidien PLC said Thursday it is buying ventilator maker Newport Medical Instruments Inc. for about $108 million.

Newport Medical Instruments is a privately held company based in Costa Mesa, Calif. Covidien said the deal should close during the second quarter of 2012, and it won't have a significant effect on Covidien's 2012 sales or profit.

On Monday, Covidien said it was buying superDimension, Ltd., an Israeli company that makes minimally invasive interventional pulmonology devices, for about $300 million.

Shares of Covidien fell 20 cents to $53.61 on Thursday, and the stock was unchanged in aftermarket trading.

More in Supply Chain