Covidien completes takeover of CV Ingenuity

Covidien has announced that it has completed its acquisition of CV Ingenuity for an undisclosed fee.

The medical technology firm will report the CV Ingenuity business as part of its vascular product line in the medical devices segment, allowing Covidien to take advantage of the expertise of its new subsidiary's talented team members.

CV Ingenuity's core technology is a drug-coated balloon platform with a novel, proprietary, tunable, rapid-release system that is still in the investigational phase.

Stacy Enxing Seng, president for vascular therapies at Covidien, said: "We are committed to being the clear first choice for our physician and hospital partners by delivering technology to improve patient outcomes."

This week, the company also announced the launch of a new study called Swift Prime, which enrolled its first patient at the University of Buffalo.

It will be one of the largest global studies examining the adjunctive use of mechanical thrombectomy during the early stages of acute ischemic stroke onset.