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BridgePoint Medical, Covidien Reach Agreement on Peripheral Vascular Devices
BridgePoint Medical, manufacturers of chronic total occlusion and peripheral vascular devices, has signed definitive agreements to exclusively license the rights to its peripheral vascular devices to Covidien.
Among BridgePoint Medical’s products included in the deal were the BigBoss catheter, Mantaray catheters and the Mantaray guidewire. Present assets that will remain with BridgePoint Medical include its employees, chronic total occlusion products and all other non-vascular applications.
The specific terms of the agreement were not disclosed at the time of the announcement.
In other Covidien news, José E. Almeida has been named chairman by the company’s board of directors effective March 13. In July, Almeida became president, CEO and a member of Covidien’s board when Richard J. Meelia, the company’s former CEO, president and chairman, retired. In addition, Stacy Enxing Seng, a co-founder and former executive of ev3 Inc., an endovascular company acquired by Covidien in 2010, has been named president of Covidien’s Vascular Therapies Global Business Unit.