Covidien to Acquire CV Ingenuity

Covidien

announced a definitive agreement to acquire CV Ingenuity. The companies expect to complete the acquisition in the first calendar quarter of 2013. Financial terms of the transaction were not disclosed. CV Ingenuity, a privately-held company based in Fremont, CA, is focused on improving patient outcomes in the treatment of peripheral arterial disease (PAD) by providing solutions to relieve vascular obstructions, inhibit restenosis, and allow natural vessel healing. The company's core technology, while still in the investigational phase, is a Drug Coated Balloon (DCB) platform with a novel, proprietary, tunable, rapid-release system.