Covidien completes CV Ingenuity acquisition

New acquisition involves revolutionary vascular technology.

Healthcare product developer Covidien has confirmed today (January 11th) that it has completed its acquisition of CV Ingenuity with an announcement that both welcomed new staff members and emphasised their commitment to a strong performance in 2013.
Stacy Enxing Seng, who is president of vascular therapies at Covidien, said that the transition had been completed relatively smoothly but did not disclose the financial details of the arrangement.
Their primary acquisition, along with the staff members, is the Drug Coated Balloon (DCB) technology, which is said to be a revolutionary rapid-release system that is both tunable and novel in its approach.
"We are pleased to add both the talented team members at CV Ingenuity as well as their promising DCB technology to our growing portfolio of vascular products," Ms Seng commented.
Covidien manufactures, distributes and services a highly varied range of product lines designed to contribute to the work of pharmaceutical companies all over the world.