Covidien Announces Definitive Agreement to Acquire Aspect Medical Systems
|
By HospiMedica International staff writers Posted on 15 Oct 2009 |
|
Covidien (Dublin, Ireland), a leading global healthcare products company, and Aspect Medical Systems (Aspect, Norwood, MA, USA), a global market leader in brain monitoring technology, have announced that Covidien has reached a definitive agreement to acquire Aspect.
The Boards of Directors of both companies have unanimously approved the transaction, pursuant to which a wholly owned subsidiary of Covidien will pay a total of close to US$210 million, net of cash and short-term investments acquired. The transaction is expected to be completed by the end of calendar year 2009.
"The acquisition of Aspect will allow Covidien to broaden its product offerings and add a market leading brain monitoring technology to its portfolio,” said Pete Wehrly, president of respiratory & monitoring solutions at Covidien. "Aspect will bring us enhanced clinical expertise, a strong research and development organization and expand our presence in the operating room. The acquisition is consistent with our strategy of expanding into adjacent market segments and will help us achieve our mission of enhancing the quality of life for patients and improving outcomes for our customers.”
"Joining Covidien provides Aspect with the scale and resources to accelerate growth of BIS and other Aspect products, to continue to invest in outcomes research, comparative effectiveness and innovation, and to support the strategy of providing products that are designed to improve patient outcomes,” said Nassib Chamoun, President and CEO of Aspect Medical Systems. "Above all, we are pleased to become part of a company that shares our commitment to evidence-based medicine and the development of products that help clinicians cost-effectively deliver better care.”
Aspect's premier product, Bispectral Index (BIS) technology, is designed to allow medical professionals to reliably gauge the precise amount of anesthetic medication required by each patient, resulting in better overall patient care. BIS technology became the first clinically proven and commercially available direct measure of the effects of anesthetics and sedatives on the brain, leading the way to proprietary technologies that directly measure these effects, and ultimately improve the quality and cost effectiveness of patient care.
Related Links:
Covidien
Aspect Medical Systems
The Boards of Directors of both companies have unanimously approved the transaction, pursuant to which a wholly owned subsidiary of Covidien will pay a total of close to US$210 million, net of cash and short-term investments acquired. The transaction is expected to be completed by the end of calendar year 2009.
"The acquisition of Aspect will allow Covidien to broaden its product offerings and add a market leading brain monitoring technology to its portfolio,” said Pete Wehrly, president of respiratory & monitoring solutions at Covidien. "Aspect will bring us enhanced clinical expertise, a strong research and development organization and expand our presence in the operating room. The acquisition is consistent with our strategy of expanding into adjacent market segments and will help us achieve our mission of enhancing the quality of life for patients and improving outcomes for our customers.”
"Joining Covidien provides Aspect with the scale and resources to accelerate growth of BIS and other Aspect products, to continue to invest in outcomes research, comparative effectiveness and innovation, and to support the strategy of providing products that are designed to improve patient outcomes,” said Nassib Chamoun, President and CEO of Aspect Medical Systems. "Above all, we are pleased to become part of a company that shares our commitment to evidence-based medicine and the development of products that help clinicians cost-effectively deliver better care.”
Aspect's premier product, Bispectral Index (BIS) technology, is designed to allow medical professionals to reliably gauge the precise amount of anesthetic medication required by each patient, resulting in better overall patient care. BIS technology became the first clinically proven and commercially available direct measure of the effects of anesthetics and sedatives on the brain, leading the way to proprietary technologies that directly measure these effects, and ultimately improve the quality and cost effectiveness of patient care.
Related Links:
Covidien
Aspect Medical Systems
Gold Member
Handheld Blood Glucose Analyzer
STAT-Site
Gold Member
STI Test
Vivalytic Sexually Transmitted Infection (STI) Array
Medical-Grade Display
HL2316SHTB
Hybrid Arch Device
Neo EDE
Latest Business News
- Endologix Adds FDA-Cleared Peripheral Thrombectomy System
- Artivion Adds FDA-Approved NEXUS System to Aortic Arch Portfolio
- Olympus Partnership Aims to Expand Access to Robot-Assisted Endoscopic Therapy
- Johnson & Johnson Launches AI-Driven Cardiac Mapping System
- Proximie Advances AI-Driven Intelligent Operating Rooms with NVIDIA Collaboration
- GE HealthCare, DeepHealth Expand AI Breast Imaging Collaboration
- Sinocare Presents AI-Driven Integrated Digital Health Solutions at CMEF
- GE HealthCare and Medtronic Expand Alliance with Intraoperative Imaging Integration
- New Partnership Advances Physical AI into Perioperative Workflows
- External Liver Assist System Receives FDA RMAT Designation
- New Partnership Expands Access to Predictive Tool for Patient Monitoring
- GE HealthCare Leads Major European Initiative to Advance Cardio-Oncology Care
- Medtronic and GE HealthCare Broaden Alliance Across Monitoring and Care Solutions
- Quantum Surgical Acquires NeuWave from Johnson & Johnson
- Medtronic to Acquire Coronary Artery Medtech Company CathWorks
- Medtronic and Mindray Expand Strategic Partnership to Ambulatory Surgery Centers in the U.S.
Channels
Artificial Intelligence
view channel
AI Platform Supports Noninvasive Remote Hemodynamic Monitoring in Heart Failure
Heart failure remains a leading cause of hospitalization in adults over 65, affecting more than 6.7 million people in the U.S. Clinicians often lose visibility into hemodynamic deterioration once patients... Read more
AI Tool Predicts Unplanned Care and Symptom Burden in Cancer Survivors
Unplanned emergency visits and hospitalizations remain common in cancer survivorship, when routine clinical contact often tapers while new symptoms emerge. These events reflect unmet needs and disrupt... Read more
Critical Care
view channel
Smartphone Heart Rhythm App Reduces Unnecessary Cardioversion Procedures
Atrial fibrillation, an irregular and often rapid heart rhythm, is the most common arrhythmia in adults. Elective electrical cardioversion is frequently canceled on the day of treatment when patients revert... Read more
New Practice Guidance Supports Prostatic Artery Embolization for BPH Symptoms
Benign prostatic hyperplasia is a noncancerous enlargement of the prostate that can cause lower urinary tract symptoms and impair daily functioning. These symptoms erode sleep, productivity, and sexual... Read more
Bedside CSF Monitor Detects Early Infection in Fluid Drains
External drainage of cerebrospinal fluid (CSF) after traumatic brain injury, hydrocephalus, or hemorrhage carries a significant risk of infection. These infections can prolong intensive care, cause severe... Read more
Wearable Ultrasound Patch Noninvasively Paces Heart to Stabilize Arrhythmias
Cardiac arrhythmias, including slow and irregular heart rhythms, often require pacemakers that are surgically implanted. While effective, implants carry procedural risks and long-term device maintenance burdens.... Read moreSurgical Techniques
view channel
CE-Marked Ultrasonic Shears Streamline Breast and Thyroid Surgery
Thyroid and breast surgeries are often performed in confined anatomical spaces near critical structures, making precise dissection and controlled thermal management essential. As the global disease burden... Read more
3D Map of Heart Electrical Wiring Aims to Guide Congenital Heart Repair
Tetralogy of Fallot is one of the most common congenital heart problems and often requires surgery in infancy. Many survivors later develop conduction abnormalities because the cardiac electrical system... Read more
Patient Care
view channel
AI Avatar Doctor Improves Patient Understanding Before Radiotherapy
Radiation oncology consultations require patients to grasp complex concepts quickly, yet anxiety and information overload often undermine understanding and informed consent. Poor comprehension can also... Read more
Wearable Sleep Data Predict Adherence to Pulmonary Rehabilitation
Chronic obstructive pulmonary disease (COPD) is a long-term lung disorder that makes breathing difficult and often disturbs sleep, reducing energy for daily activities. Limited engagement in pulmonary... Read more
Health IT
view channel
AI-Native EHR Achieves EU Medical Device Certification
InterSystems (Boston, MA, USA) announced that its IntelliCare electronic health record (EHR) solutions have been certified as Class IIa medical devices under the European Union Medical Device Regulation... Read more
EHR-Integrated Screening Workflow Detects Cognitive Impairment at Admission
Cognitive impairment involves difficulties with thinking, learning, memory, and decision-making, and is more common in older adults. In U.S. hospitals, more than 40% of admitted older adults have dementia,... Read more
Point of Care
view channel
Portable MRI System Accelerates Emergency Brain Imaging and Triage
Emergency departments frequently face delays accessing conventional magnetic resonance imaging (MRI) for patients with suspected neurological emergencies. Such waits can slow triage, prolong boarding,... Read more
