Covidien Plc , the medical-equipment company spun off from Tyco International Ltd., agreed to buy ev3 Inc. (Plymouth, MI) for $2.6 billion. Covidien will pay $22.50 a share in cash for ev3. Dublin-based Covidien is paying 19% more than the May 28 closing price for ev3’s stock.
Cardiovascular - Industry Insight
FDA is allowing Boston Scientific to resume defibrillator sales. Sales were halted due to manufacturing process changes that had not been approved by the agency. Both the company and FDA say that the changes did not affect the safety of the defibrillators, which send electrical jolts to the heart to regulate heartbeat.