Covidien to Acquire Aspect Medical Systems Inc.

Covidien will acquire Aspect Medical Systems Inc., a manufacturer of brain monitoring technology, for about $210 million, according to the Dublin, Ireland and Norwood, Mass.-based firms.

The boards of directors of both companies have unanimously given the transaction the green light.

Aspect’s main product, Bispectral Index technology, became the first clinically proven and commercially available direct measure of the effects of anesthetics and sedatives on the brain, according to the firm.

“The acquisition of Aspect will allow Covidien to broaden its product offerings and add a market leading brain monitoring technology to its portfolio,” said Pete Wehrly, president, respiratory and monitoring solutions, Covidien. “Aspect will bring us enhanced clinical expertise, a strong research and development organization and expand our presence in the operating room. The acquisition is consistent with our strategy of expanding into adjacent market segments and will help us achieve our mission of enhancing the quality of life for patients and improving outcomes for our customers.”

Nassib Chamoun, president and CEO of Aspect Medical Systems, said,”Joining Covidien provides Aspect with the scale and resources to accelerate growth of BIS and other Aspect products, to continue to invest in outcomes research, comparative effectiveness and innovation, and to support the strategy of providing products that are designed to improve patient outcomes. Above all, we are pleased to become part of a company that shares our commitment to evidence-based medicine and the development of products that help clinicians cost-effectively deliver better care.”