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