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Covidien (NYSE:COV) To Sell Confluent Surgical Product Line To Integra LifeSciences (Nasdaq:IART)

|Includes:Integra LifeSciences Holdings Corporation (IART), MDT

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https://staticseekingalpha.a.ssl.fastly.net/uploads/2013/10/28/saupload_cov.jpg Covidien plc (NYSE:COV)

https://staticseekingalpha.a.ssl.fastly.net/uploads/2013/10/28/saupload_iart1.jpg Integra LifeSciences Holdings Corp. (Nasdaq:IART)

COV reported that it has entered into a definitive agreement with IART to sell its Confluent Surgical product line.

Under the terms of the agreement, COV will receive an initial cash payment of $235 million from IART upon the closing of the transaction. Additionally, COV may receive up to $30 million, contingent upon the achievement of certain performance measures related to the transition of the Confluent Surgical business to IART.

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COV is a leading global healthcare products company that creates innovative medical solutions for better patient outcomes and delivers value through clinical leadership and excellence. COV manufactures, distributes and services a diverse range of industry-leading products in medical devices and supplies.

More about Integra LifeSciences Holdings Corp. (Nasdaq:IART) at www.covidien.com

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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: IART, MDT