11 January 2013 - Covidien (NYSE:COV), a provider of healthcare products, announced on Thursday the completion of the acquisition of CV Ingenuity.

Financial details of the acquisition were not disclosed.

CV Ingenuity’s core technology, which is still in the investigational phase, is a Drug Coated Balloon (DCB) platform with a novel, proprietary, tunable, rapid-release system.

With the completion of the transaction, Covidien will report the CV Ingenuity business as part of its Vascular product line in the Medical Devices segment.