Covidien acquires CardioDigital patient monitoring technology

13 August 2008

Covidien (NYSE: COV, BSX: COV) has announced the acquisition of technology assets from CardioDigital Inc, a company specialising in the development of advanced signal processing for patient monitoring.

The technology, which will be used by Covidien’s Respiratory and Monitoring Solutions business unit, reflects the Company’s strong commitment to making investments in clinically relevant product innovations designed to improve patient outcomes. The 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, Medical Devices, Covidien.

CardioDigital’s innovative technology will complement Respiratory and Monitoring Solution’s market-leading Nellcor pulse oximetry platform. In addition, Almeida said, “This acquisition sets the stage for more of these types of growth opportunities in the future.”

CardioDigital Inc, based in Portland, Oregon, provides commercialisation of near-to-market technologies developed by its research organisation, CardioDigital Ltd, located in Edinburgh, Scotland. CardioDigital Ltd was established in 2001 to develop products based on the founders' award-winning research into revealing hidden structure in the ECG of ventricular fibrillation. The company received significant investment from the Scottish government and the Welcome Trust, the UK's largest medical charity, and set up its US branch in March 2007 to commercialise its products.


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