Reuters: Deals: Covidien to buy ventilator maker Newport for $108 million

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Covidien to buy ventilator maker Newport for $108 million Mar 22nd 2012, 21:08 Thu Mar 22, 2012 5:08pm EDT (Reuters) - Healthcare products and medical device maker Covidien Plc (COV.N) said it will buy privately owned Newport Medical for about $108 million to gain access to ventilator devices. The acquisition, which comes days after Covidien clinched a deal to buy Israel-based respiratory systems maker superDimension Ltd for about $300 million, signals the company's efforts to consolidate in the medical devices segment. The acquisition of Newport is expected to be completed in the second quarter of this year, and will not have a material impact on Covidien's fiscal 2012 results, the company said in a statement. "Newport's products and technology... will broaden our ventilation platform for patients around the world, particularly in emerging markets," said Robert J. White, president of the Covidien's respiratory & monitoring systems unit. Covidien shares, which have risen about 21 percent in the last three months, closed at $53.61 on Thursday on the New York Stock Exchange.

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