Covidien to acquire VNUS for $440M

Healthcare firm Covidien has inked an agreement to acquire VNUS Medical Technologies of San Jose, CA, for $440 million.

Covidien, based in Dublin, Ireland, will pay $29 in cash per VNUS share for the transaction, which has been approved by both companies' boards of directors. The acquisition is expected to close by the end of June.

VNUS develops medical devices for minimally invasive treatment of venous reflux disease. Covidien plans to make VNUS part of its vascular product line in the Medical Devices segment.

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