Covidien to sell its Confluent Surgic...

Covidien to sell its Confluent Surgical product line

Posted in the Bandera Forum

Since: Sep 13

Henderson, NV

#1 Oct 28, 2013
Covidien plc (NYSE:COV) reported that it has entered into a definitive agreement with Integra LifeSciences Holdings Corp.(Nasdaq:IART) to sell its Confluent Surgical product line.

Under the terms of the agreement, COV will receive an initial cash payment of $235 million from IART upon the closing of the transaction. Additionally, COV may receive up to $30 million, contingent upon the achievement of certain performance measures related to the transition of the Confluent Surgical business to IART.

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