Covidien announces takeover of Reverse Medical Corporation

Covidien has announced the takeover of Reverse Medical Corporation for an undisclosed fee.

The privately-held medical device company is focused on expanding the management of vascular disease through technology innovations. Once the deal is complete, the business will become part of the neurovascular product line within Covidien's medical devices segment.

Currently, the firm sells the MVP Micro Vascular Plug System and UNO Neurovascular Embolisation System, a pair of self-expanding vessel occlusion devices that can close blood vessels for vascular embolisation.

It is also responsible for creating the ReVerse Microcatheter for device delivery and Barrel Vascular Reconstruction Device, a self-expandable bifurcation aneurysm bridging product. All of these products are commercially available in Europe.

Brett Wall, president for Covidien's neurovascular division, said: "The acquisition of Reverse Medical is complementary to our existing portfolio and will allow us to leverage existing vascular technologies to compete in the worldwide vascular embolisation market."

This comes as Covidien prepares to be incorporated into the Medtronic group, which acquired the firm in a multibillion-dollar deal agreed in June 2014.