Covidien plc Discloses $60 Million Purchase of Hypertension Treatment Firm

Covidien announced Tuesday that it will introduce a new renal denervation treatment at a European conference in mid May, but nowhere in the press release does the Massachusetts device firm name the developer of the technology: Maya Medical, based in Campbell, California. For that you have to read the company’s quarterly report filed with the Securities & Exchange Commission Friday. In it, Covidien discloses that it purchased Maya Medical for $60 million in cash on April 20. If Maya Medical meets certain regulatory and sales milestones, it will receive up to an additional $170 million. Covidien notes that Maya Medical’s OneShot system received the CE Mark in February.

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