Covidien Completes Acquisition of Newport Medical

Dublin, Ireland-based Covidien continues its buying spree with Newport Medical Instruments Inc. The acquisition is valued at $108 million to be paid in cash and short-term investments acquired. Newport Medical is a physician-lead company focused primarily on ventilators, and is based in Costa Mesa, Calif.

“This is an exciting day for both Covidien and Newport Medical,” said Robert J. White, president of Respiratory & Monitoring Solutions at Covidien. “Newport’s products and technology complement our current portfolio of respiratory solutions and will broaden our ventilation platform for patients around the world, particularly in emerging markets.”

Covidien recently purchased Israeli company Oridion, which makes devices that monitor breathing status. As it did with Oridion, Covidien will fold Newport Medical into its Respiratory and Monitoring Products unit.