BioSpace Collaborative

Academic/Biomedical Research
News & Jobs
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  C2C Services & Suppliers™
Europe
Asia

DIVERSITY

PROFILES
Company Profiles

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Research Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
Get Our Industry eNewsletter FREE email:    
   

Triad Isotopes Buys Radiopharmacies from Covidien (COV); Covidien Also Sells its Sleep Therapy Continuous Positive Airway Pressure (CPAP) and Bi-level Products to PH Invest


6/1/2010 8:13:43 AM

Press Release -- Covidien, a leading global provider of healthcare products, today announced a definitive agreement to sell its Sleep Therapy continuous positive airway pressure (CPAP) and Bi-level products to PH Invest, a privately held company located in Luxembourg.

PH Invest will acquire the CPAP and Bi-level products, including the Nancy, France manufacturing facility, as well as related commercial operations in Europe. Several products, which are sold under the GoodKnight™ and Sandman™ brands, are included in this agreement. The agreement excludes the sleep interface products sold and marketed under the brand names Adam™, Breeze™ and Dreamfit™, which will continue to be sold by Covidien. Financial terms of this transaction were not disclosed.

This transaction, which is subject to customary closing conditions, is expected to be completed in the next 90 days and is not expected to have a material effect on operating income or earnings per share for 2010 or 2011.

In addition, Covidien has completed the previously announced sale of its radiopharmacies in the United States to Triad Isotopes, Inc. of Orlando, FL. Financial terms of that transaction were not disclosed.

Covidien’s radiopharmacy net sales were $91 million in the first six months of fiscal 2010. This transaction is not expected to have a material effect on Covidien’s operating income or earnings per share for fiscal 2010 or 2011.

The decision to divest these product lines was made following a thorough review and evaluation of a number of strategic alternatives. The decision is consistent with Covidien’s strategy to streamline its portfolio and reallocate resources to its faster-growing, higher-margin businesses, where the Company has, or can develop, a global competitive advantage.

ABOUT COVIDIEN

Covidien is a leading global healthcare products company that creates innovative medical solutions for better patient outcomes and delivers value through clinical leadership and excellence. Covidien manufactures, distributes and services a diverse range of industry-leading product lines in three segments: Medical Devices, Pharmaceuticals and Medical Supplies. With 2009 revenue of $10.7 billion, Covidien has 42,000 employees worldwide in more than 60 countries, and its products are sold in over 140 countries. Please visit www.covidien.com to learn more about our business.




   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES
 

//-->