WALTHAM, Mass., June 17 /PRNewswire/ -- Millennium Research Group (MRG), the global authority on medical technology market intelligence, has learned of Covidien plc's announcement that it will acquire all of Somanetics' outstanding shares. Earlier this month, Covidien announced its purchase of ev3 and continues to pursue its strategy of acquiring companies that will enhance Covidien's global competitive position in medical device markets.
In the US, Somanetics is the leader of the advanced neurological monitoring market due to the success of its INVOS Cerebral/Somatic Oximeter, the country's first commercially available device capable of totally noninvasive, continuous monitoring. The device can be used in neonatal, pediatric, and adult intensive care environments for neurological monitoring, which can decrease the risk of neurological complications and therefore reduce a patient's length of stay by accelerating recovery time. By the end of July, Covidien plans to acquire all of Somanetics' outstanding shares for $25.00 per share in cash, totaling $250 million.
MRG's Hardware Division Manager, Ravindra Sharma, is available to offer extensive expertise on this announcement. Mr. Sharma can comment on
- how Somanetics' product lines complement Covidien's current device portfolio;
- how the acquisition will impact other competitors in the advanced neurological monitoring market;
- the impact on Covidien as it expands its presence in the patient monitoring market; and
- the potential effect on technology in the neurological monitoring market.
"The market for advanced neurological monitoring products is set for strong double-digit growth over the next five years," says Mr. Sharma. "Acquiring Somanetics gives Covidien a strong foothold in this growing market, and also expands the breadth of Covidien's patient monitoring portfolio that also includes Aspect Medical Systems (an acquisition Covidien made in 2009). Covidien is now well poised to leverage its existing sales network to strengthen INVOS' market leader status in the US advanced neurological patient monitoring market, and we see potential for greater traction for the device in Europe, too."
MRG's global patient monitoring expertise covers monitors used for measuring vital signs, hemodynamic parameters, cerebral oximetry, neonatal monitoring, and more.
To arrange an interview with Mr. Sharma, please contact Amy Krohn at 416-364-7776 ext. 101 or firstname.lastname@example.org.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources, Inc. company (www.DecisionResourcesInc.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
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SOURCE Millennium Research Group