December 25, 2012

Covidien to Acquire CV Ingenuity

December 26, 2012—Covidien (Mansfield, MA) announced a definitive agreement to acquire CV Ingenuity (Fremont, CA). The companies expect to complete the acquisition in the first calendar quarter of 2013.

CV Ingenuity is focused on solutions for the treatment of peripheral artery disease to relieve vascular obstructions, inhibit restenosis, and allow natural vessel healing. The company's core technology is a drug-coated balloon (DCB) platform with a tunable, rapid-release system. The DCB is in the investigational phase of development. Covidien will fund the clinical development of CV Ingenuity technologies and does not anticipate receiving US Food and Drug Administration approval for a DCB product using the CV Ingenuity technology until fiscal year 2017.

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December 25, 2012

Covidien to Acquire CV Ingenuity

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