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Covidien plc, an Irish medical device and pharmaceutical maker with U.S. headquarters in Mansfield, has completed its acquisition of 90 percent of the outstanding shares in brain-monitoring device company Aspect Medical Systems Inc.
Covidien said the 16.2 million Aspect shares were purchased by its Transformer Delaware Corp. subsidiary and that it plans to exercise an option to purchase newly issued Aspect (Nasdaq: ASPM) shares to complete the buyout.
That move “will permit Covidien to complete the acquisition ... without a vote or meeting of Aspect’s remaining stockholders,” Covidien wrote in a regulatory filing late Friday.
Norwood-based Aspect will become a wholly owned Covidien subsidiary after the merger.
In September, Covidien (NYSE: COV) announced plans to buy Aspect, which makes brain-monitoring devices, for about $210 million.
Aspect Medical (Nasdaq: ASPM) says its brain-monitoring system, called bispectral index technology, is used to monitor neural activity in patients undergoing general anesthesia or deep sedation.
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