Covidien completes acquisition of Aspect Medical Systems

Covidien announced this week that it has finalised its acquisition of Aspect Medical Systems.

It purchased the firm for an overall sum of $210 million (124.7 million pounds).

This news comes after the expiration of the tender offer at midnight at the end of Thursday November 5th 2009, by when the depositary for the offer advised Covidien that 16,195,245 shares of Aspect common stock had been validly tendered and not withdrawn.

These shares represent approximately 89.58 per cent of the outstanding Aspect common shares.

Pete Wehrly, president of respiratory and monitoring solutions at Covidien, stated: “The acquisition will expand our presence in the operating room and help us achieve our mission of enhancing the quality of life for patients and improving outcomes for our customers.”

This news comes after Covidien launched its latest product on to the medical equipment market last month – the V-Loc – a device that is designed to close dermal wounds quickly and securely without the need for knots.