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Covidien Divesting Its CPAP Business?
was competition Covidien facing from ResMed and Respironics too much? They are the makers of the Sandman and GoodKnight CPAP machines. More below:
"Covidien announced a definitive agreement to sell its Sleep Therapy continuous positive airway pressure (CPAP) and Bi-level products to PH Invest, a privately held company located in Luxembourg.
PH Invest will acquire the CPAP and Bi-level products, including a manufacturing facility in France and related commercial operations in Europe. Products which are sold under the GoodKnight and Sandman brands are included in this agreement.
However, the agreement excludes the sleep interface products sold and marketed under the brand names Adam, Breeze and Dreamfit, which will continue to be sold by Covidien. Financial terms of the transaction were not disclosed. The deal is expected to be completed in the next 90 days and is not expected to have a material effect on operating income or earnings per share for 2010 or 2011.
Covidien said the decision to divest the product lines was made following a review of a number of strategic alternatives. The decision is consistent with Covidien’s strategy to streamline its portfolio and reallocate resources to its faster-growing, higher-margin businesses."
Views: 88
Replies to This Discussion
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Permalink Reply by Judy on
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When Philips Respironics and Resmed control 80% of the market in the USA which is the largest PAP market in the world I can understand Covidien's decision. Puritan Bennet's GoodKnight 420E APAP had a lot of fans and the new Sandman PAPs looked promising. But the gap is so huge from PR and Resmed to the next most popular PAP manufacturer ..... I say kudos to DeVilbiss and Fisher & Paykel for developing fully data capable PAPs and hanging in there and struggling for a reasonable share of the PAP market in the USA.
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Permalink Reply by Mike on
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To avoid antitrust scrutiny ResMed and Respironics should have the attitude of "the more, the merrier," and they do it seems. For now . . .
Judy said:When Philips Respironics and Resmed control 80% of the market in the USA which is the largest PAP market in the world I can understand Covidien's decision. Puritan Bennet's GoodKnight 420E APAP had a lot of fans and the new Sandman PAPs looked promising. But the gap is so huge from PR and Resmed to the next most popular PAP manufacturer ..... I say kudos to DeVilbiss and Fisher & Paykel for developing fully data capable PAPs and hanging in there and struggling for a reasonable share of the PAP market in the USA.
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If I were Resmed and PR I wouldn't worry about today's "anti-trust" climate. It seems to be virtually non-existent given all the "take overs", "buy outs", etc. etc. actually encouraged by our government, especially in the financial market. Its been going on for years, leveraged buy outs and (can't think of the word I want - "antagonistic") take overs, big companies gobbling up smaller companies, etc., etc.
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