News | September 09, 2009

Covidien Acquires Power Medical Interventions for $65 Million

September 9, 2009 - Covidien, a global provider of healthcare products, announced that it has completed the previously announced acquisition of Power Medical Interventions Inc. (PMI) for an aggregate consideration of approximately $65 million, including assumption of debt.

The acquisition of Power Medical will expand Covidien’s stapling product line and solutions that enable advanced surgical care.

The tender offer expired at 12:00 midnight ET, at the end of September 4, 2009. At that time, the depositary for the offer advised Covidien that 15,210,583 shares of PMI had been validly tendered and not withdrawn, representing approximately 87 percent of the outstanding PMI common shares. All shares that were validly tendered and not withdrawn were accepted for purchase and paid for in accordance with the tender offer. An additional 247,765 shares, or approximately 1.4 percent of the outstanding PMI shares, had been tendered pursuant to notices of guaranteed delivery.

For more information: www.covidien.com

Related Content

Houston Methodist Hospital Enters Multi-Year Technology and Research Agreement With Siemens Healthineers
News | Imaging | August 17, 2017
Houston Methodist Hospital and Siemens Healthineers have entered into a multi-year agreement to bring cutting-edge...
Patient Complexity, Subspecialization Impact List Prices for Radiologists' Services
News | Business | August 15, 2017
A new study by the Harvey L. Neiman Health Policy Institute finds that patient condition complexity and...
Upcoming radiology conferences, meetings and events.
News | August 14, 2017
ITN maintains a comprehensive listing of radiology specialty meetings on its website at ...
ACR Establishes Education Committee for Patient- and Family-Centered Care
News | Patient Engagement | August 09, 2017
Members of the new Education Committee of the American College of Radiology (ACR) Commission on Patient- and Family-...
ACR Annual Conference on Quality and Safety Offers Strategies for Radiology Practices
News | Business | August 08, 2017
The American College of Radiology (ACR) Annual Conference on Quality and Safety, scheduled for Oct. 13-14 in Boston,...
Sponsored Content | Videos | Business | July 28, 2017
Angelic McDonald, MSRS, CRA, FAHRA, regional director of imaging, Baylor Scott & White Health and the president-e
Radiation dose tracking in medical imaging is helping increase patient safety by lower X-ray doses.
Feature | Radiation Dose Management | July 26, 2017 | Dave Fornell
Patient X-ray radiation exposure from medical imaging has been a hot topic in radiology the past few years and has pr
Radiologists Seek Greater Involvement in Patient Care
News | Patient Engagement | July 20, 2017
Despite time and workload constraints, radiologists are looking for ways to become more directly involved in the care...
ACR Updates Radiation Oncology and Medical Physics Guidance With ASTRO and AAPM
News | Radiation Dose Management | July 19, 2017
July 19, 2017 — The American College of Radiology (ACR) recently collaborated with professional medical societies to
Overlay Init