COVIDIEN ACQUIRES ORIDION FOR $346M

OridionSytems,Ltd. (SWX: ORIDN) an Israeli manufacturer of capnography respiratory monitors and modules was bought by Ireland’s Covidienplc.(NYSE: COV) for $346 million in cash. Following the acquisition, the company will become part of Covidien’s oximetry and monitoring product line. Oridion is Covidien’s second Israeli acquisition within less than a month, following the acquisition of pulmonary endoscope developer superDimension for $300 million in March. Oridion’s Microstream capnography systems measure carbon dioxide level in exhaled breath to provide an early indication of restricted airways, facilitating patient care.