Thursday, August 7, 2008

Covidien collects technology of CardioDigital

By Mass High Tech Staff

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Mansfield-based health-care supplier and medical device developer Covidien Ltd. acquired the technology of CardioDigital Inc., a patient monitoring technology company focused on the improvement of signal processing. CardioDigital is headquartered in Portland, Ore., but develops its technology at its research unit in Edinburgh, Scotland.

Covidien will use the technology within its respiratory and monitoring solutions business unit. The company said its Nellcor pulse oximetry platform would also benefit from CardioDigital’s patient monitoring technology.

The buy “sets the stage” for more such deals in the future, Covidien officials said. Financial details of the deal were not disclosed.

Covidien, formerly Tyco Healthcare, has more than 42,000 employees in 57 countries worldwide. Mass High Tech ranked the company the largest medical device firm in New England in December 2007, with 5,000 employees based in Massachusetts.

Covidien reported a 2007 net loss of $342 million on sales of $10.2 billion.