Syneron Medical Ltd. and Candela Corporation to Merge Creating a Leading Global Aesthetic Device Company
Wed Sep 9, 2009 5:00am EDT YOKNEAM, ISRAEL and WAYLAND, MA,
Syneron Medical Ltd. (NASDAQ: ELOS) and Candela Corporation (NASDAQ: CLZR) announced today that they have entered into a definitive agreement to combine the companies in an all stock transaction. The transaction is expected to be completed by year-end 2009.
Monday, September 28, 2009
Exit: Aspect Medical Systems Sold To Covidien
Covidien Announces Definitive Agreement to Acquire Aspect Medical Systems
COV's purchase of ASPM, a developer and marketer of a brain monitoring product, adds new products to COV's underperforming Respiratory and Monitoring business (~14% of FY2008 sales). Aspect's main product, the Bispectral Index (BIS), measures the effects of anesthesia and sedatives on the brain. ASPM will also bring in an R&D organization as well as further expand COV's monitoring presence in the operating room.
Not Material Financially. COV will pay ~$210M in cash (~$12 per share), net of cash and investments acquired. In 2008, ASPM had ~$99M (+2% y/y) in sales or less than 1% of COV's total sales. Excluding a one-time restructuring charge, COV expects the transaction to be slightly dilutive to FY2010 EPS.
COV's purchase of ASPM, a developer and marketer of a brain monitoring product, adds new products to COV's underperforming Respiratory and Monitoring business (~14% of FY2008 sales). Aspect's main product, the Bispectral Index (BIS), measures the effects of anesthesia and sedatives on the brain. ASPM will also bring in an R&D organization as well as further expand COV's monitoring presence in the operating room.
Not Material Financially. COV will pay ~$210M in cash (~$12 per share), net of cash and investments acquired. In 2008, ASPM had ~$99M (+2% y/y) in sales or less than 1% of COV's total sales. Excluding a one-time restructuring charge, COV expects the transaction to be slightly dilutive to FY2010 EPS.
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