Reuters: Deals: Covidien to buy Oridion Systems for about $300 million

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Covidien to buy Oridion Systems for about $300 million Apr 5th 2012, 05:30 Thu Apr 5, 2012 1:30am EDT (Reuters) - U.S. healthcare products and medical device maker Covidien (COV.N) said it would buy Israel-based Oridion Systems (ORIDN.S) for about $300 million in cash. As per the deal, a wholly owned subsidiary of Covidien will pay $23 per Oridion share and the company said the deal is not expected to have a material impact on its fiscal 2012 sales. "Oridion's products are excellent complements to the company's current portfolio of pulse oximeters and monitoring products," Robert White, president, Covidien's Respiratory & Monitoring Systems, said in a statement. Covidien will report the Oridion systems business as part of its oximetry & monitoring product line. The companies expect to complete the deal in the second calendar quarter of 2012.

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