A Medical Device Daily
Covidien (Mansfield, Massachusetts) reported the acquisition of technology assets from CardioDigital (Portland, Oregon), a company that develops advanced signal processing techniques for patient monitoring.
The technology will be used by Covidien's Respiratory and Monitoring Solutions business unit. Covidien said it reflects the company's "commitment to making investments in clinically relevant product innovations designed to improve patient outcomes." Financial terms of the transaction were not disclosed.
"The acquisition of CardioDigital's technology is an exciting opportunity for us to strengthen our patient monitoring business as we partner with our customers to improve outcomes. We believe that the technology will enable significant improvements in current patient monitoring techniques, resulting in enhanced patient care and safety," said Joe Almeida, president of the Medical Devices segment at Covidien.
CardioDigital's technology will complement Respiratory and Monitoring Solution's Nellcor pulse oximetry platform, Covidien said.
"This acquisition sets the stage for more of these types of growth opportunities in the future," Almeida said.
Covidien makes a diverse range of products in four segments: medical devices, imaging solutions, pharmaceutical products and medical supplies.
In other dealmaking activity:
MedQuist (Mount Laurel, New Jersey) reported the closing of the transaction by Koninklijke Philips Electronics N.V. (Andover Massachusetts) to sell its nearly 69.5% ownership interest in MedQuist to CBaySystems Holdings (Annapolis, Maryland) a traded holding company with a portfolio of investments in medical transcription, healthcare technology, and healthcare financial services, including CBay Systems & Services, CBay Systems Private and Mirrus Systems (Boston).
MedQuist is a medical transcription service organization. Its solutions include mobile voice capture devices, speech recognition, web-based workflow platforms, and global network of medical editors.
NDS Surgical Imaging (NDSsi; San Jose, California) reported the acquisition of Dome Imaging Systems, the medical business unit of Planar Systems (Beaverton, Oregon). Dome makes medical display products for diagnostic imaging and patient care applications. Its customers include global picture archiving and communication systems OEM suppliers and medical information technology resellers to healthcare providers.
NDSsi delivers visualization systems designed to enable imaging informatics in surgery.