Covidien agrees to buy Aspect Medical for $210m

Covidien PLC, an Irish health-care products company with offices in Mansfield, said it has agreed to buy Aspect Medical Systems Inc., a Norwood company specializing in brain monitoring technology, for $210 million.

Covidien said the proposed acquisition would broaden its portfolio of product offerings.

"The boards of directors of both companies have unanimously approved the transaction, pursuant to which a wholly owned subsidiary of Covidien will pay $12.00 in cash per Aspect share for a total of approximately $210 million, net of cash and short-term investments acquired," Covidien said in a press release. "The transaction, which will take the form of an all cash tender offer followed by a second-step merger, is subject to customary closing conditions, including receipt of certain regulatory approvals, and is expected to be completed by the end of calendar 2009."

Aspect Medical had 2008 revenues of $99 million, the release said. (Globe Staff)