Published:
Covidien Completes Acquisition of Aspect Medical Systems Inc.
DUBLIN - (BUSINESS WIRE) - Covidien (NYSE: COV), a leading global provider of healthcare products,
today announced that it has completed the previously announced
acquisition of Aspect Medical Systems Inc. for an aggregate
consideration of approximately $210 million, net of cash and short-term
investments acquired.
The tender offer expired at 12:00 midnight ET, at the end of November 5,
2009. At that time, the depositary for the offer advised Covidien that
16,195,245 shares of Aspect common stock had been validly tendered and
not withdrawn, representing approximately 89.58% of the outstanding
Aspect common shares. All shares that were validly tendered and not
withdrawn were accepted for purchase and paid for in accordance with the
tender offer. An additional 297,066 shares, or approximately 1.64% of
the outstanding Aspect common shares, had been tendered pursuant to
notices of guaranteed delivery.
Pursuant to the terms of the merger agreement, Transformer Delaware
Corp., an indirect wholly owned subsidiary of Covidien, exercised its
option to purchase newly issued shares from Aspect at the tender offer
price. Following the purchase, Transformer Delaware Corp. owned
sufficient shares to effect a short-form merger with and into Aspect,
which then became an indirect wholly owned subsidiary of Covidien.
Thereafter, Aspect common stock ceased to be traded on the NASDAQ.
"The acquisition of Aspect will broaden our monitoring portfolio and is
consistent with our strategy to expand into adjacent market segments,"
said Pete Wehrly, President, Respiratory & Monitoring Solutions,
Covidien. "We are pleased to add Aspect's clinical expertise, research &
development organization and sales force to Covidien. The acquisition
will expand our presence in the operating room and help us achieve our
mission of enhancing the quality of life for patients and improving
outcomes for our customers."
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 2008 revenue of $10 billion, Covidien has more
than 41,000 employees worldwide in 59 countries, and its products are
sold in over 140 countries. Please visit www.covidien.com
to learn more about our business.
Covidien
Eric Kraus, 508-261-8305
Senior Vice President
Corporate
Communications
eric.kraus@covidien.com
or
Coleman
Lannum, CFA, 508-452-4343
Vice President
Investor Relations
cole.lannum@covidien.com
or
Bruce
Farmer, 508-452-4372
Vice President
Public Relations
bruce.farmer@covidien.com
or
Brian
Nameth, 508-452-4363
Director
Investor Relations
brian.nameth@covidien.com
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