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Covidien to buy ev3 in vascular deal |
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Friday, 04 June 2010 |
Covidien Plc. has planned to acquire ev3 Inc. for USD 2.6 billion (Rs. 12,480 crore) to boost its business in stents and other vascular devices, underscoring the favorable deal climate in the medical technology industry. Ev3 specializes in two areas where Covidien sees significant growth over the next five years: neurovascular diseases and diseases of vessels outside the heart and brain, known as peripheral vascular diseases. The deal stands to presage a huge wave of deals among large medical device players that are cash rich and starved for growth, while many smaller companies have products in attractive areas.
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