Covidien Sells Sleep Diagnostics Assets to Embla
American Academy of Sleep Medicine
Friday, September 25, 2009
On Monday medical device maker Covidien reported that it had completed the sale of its sleep diagnostics assets - including several products sold under the Sandman brand - to Embla Systems. The agreement was previously announced on Sept. 3. According to a company news release, Covidien is streamlining its portfolio and reallocating resources to its "faster-growing, higher-margin businesses."
On Sept. 3 Covidien also announced that it has proposed the sale of its sleep therapy product line; this includes several products sold under the Sandman, DreamFit, GoodKnight and Breeze brands.