Financial terms of the deal were not disclosed between Covidien (NYSE: COV) and GE Healthcare (NYSE: GE), headquartered in Little Chalfont, United Kingdom. The two companies in May signed a five-year collaboration agreement to incorporate Covidien measurement technologies into GE Healthcare patient monitors.
Covidien’s blood oxygen monitoring device and a related alarm system can enhance the respiratory support and resuscitation capabilities of the GE Giraffe and Panda warmers, according to a Covidien press statement. The devices help clinicians monitor infants for life-threatening cardiac and respiratory complications, according to the press statement.
An estimated 400,000 babies born in the United States every year, or 10 percent of the total, need some sort of assistance in the delivery room, Covidien said.
About 400 employees work at Covidien’s respiratory and monitoring solutions business unit in Gunbarrel. Covidien’s corporate headquarters is in Mansfield, Massachusetts, although it is incorporated in Dublin, Ireland.
Covidien also has 1,400 employees working at a surgical-device unit in Gunbarrel. The company opened an $18 million, 63,000-square-foot research and development center in Gunbarrel in March. Worldwide, Covidien posted $11.6 billion in revenue in 2011.