Leerink Swann in $250 Million Acquisition of Somanetics Corporation by Covidien

July 29, 2010

Cleary Gottlieb represented Leerink Swann, an industry specialist investment bank serving healthcare companies, as financial advisor to Somanetics Corporation, a manufacturer of noninvasive medical diagnostic and monitoring equipment, in its acquisition by Covidien, a leading global healthcare products company that manufactures and distributes medical devices, pharmaceuticals and medical supplies. The enterprise value of this all-cash acquisition, net of cash acquired, was approximately $250 million and was effected as a cash tender offer followed by a second-step merger. The deal closed  on July 29.