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<p>[QUOTE="Anonymous, post: 5251612"]Covidien says it plans to divest its some of its vascular therapies business to mollify U.S. anti-trust regulators about its proposed $43 billion merger with Medtronic.</p><p><br /></p><p><br /></p><p>Covidien (NYSE:COV) said today that it will likely divest some of its vascular therapies business to satisfy U.S. anti-trust regulators ahead of its proposed, $43 billion merger with Medtronic (NYSE:MDT).*</p><p><br /></p><p>The divestitures prompted Mansfield, Mass.-based Covidien to log a pre-tax impairment charge of $90 million to $125 million with its 4th-quarter results, according to a regulatory filing.</p><p><br /></p><p>Sign up to get our free newsletters delivered straight to your inbox</p><p><br /></p><p>"On Oct. 20, 2014, Covidien plc’s management concluded that a non-cash charge was required for the impairment of non-amortizable in-process research and development projects associated with its vascular therapies product line," according to the filing. "This determination reflects the probability that the in-process technology will be sold in connection with the acquisition of Covidien by Medtronic."</p><p><br /></p><p>The vascular therapies business includes devices to treat peripheral artery disease, chronic venous insufficiency and neurological conditions including stroke and aneurysm.[/QUOTE]</p><p><br /></p>
[QUOTE="Anonymous, post: 5251612"]Covidien says it plans to divest its some of its vascular therapies business to mollify U.S. anti-trust regulators about its proposed $43 billion merger with Medtronic. Covidien (NYSE:COV) said today that it will likely divest some of its vascular therapies business to satisfy U.S. anti-trust regulators ahead of its proposed, $43 billion merger with Medtronic (NYSE:MDT).* The divestitures prompted Mansfield, Mass.-based Covidien to log a pre-tax impairment charge of $90 million to $125 million with its 4th-quarter results, according to a regulatory filing. Sign up to get our free newsletters delivered straight to your inbox "On Oct. 20, 2014, Covidien plc’s management concluded that a non-cash charge was required for the impairment of non-amortizable in-process research and development projects associated with its vascular therapies product line," according to the filing. "This determination reflects the probability that the in-process technology will be sold in connection with the acquisition of Covidien by Medtronic." The vascular therapies business includes devices to treat peripheral artery disease, chronic venous insufficiency and neurological conditions including stroke and aneurysm.[/QUOTE]
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Cafepharma Message Boards | Pharma Sales, Device Sales, Lab Sales
Home
Forums
>
Medical Equipment/Device Sales
>
Covidien
>
Vascular
>
Cafepharma Message Boards | Pharma Sales, Device Sales, Lab Sales
Home
Forums
>
Medical Equipment/Device Sales
>
Covidien
>
Vascular
>