Covidien to sell Confluent Surgical line to Integra LifeSciences

Covidien has confirmed the sale of its Confluent Surgical product line to Integra LifeSciences, a deal that is expected to be finalised by March 31st 2014.

The agreement will see Covidien receive an initial cash payment of $235 million (146.14 million pounds) from Integra, with an additional $30 million contingent upon the achievement of certain performance measures by the divested business.

Confluent Surgical products include DuraSeal, DuraSeal Exact/Xact, VascuSeal and SprayShield and are currently part of the soft tissue repair category of Covidien's medical devices business.

The sale will help Covidien to increase its focus on its global strategic priorities, with Integra having been chosen as a suitable buyer due to its expertise in the neurosurgery and spine surgery sector.

Bryan Hanson, medical devices president at Covidien, said: "We express our sincere gratitude to our dedicated employees and the clinicians who have partnered with us throughout the years."

This follows on from the separation of the company's pharmaceuticals business earlier this year under the same strategy.