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.

Full article at