Shareholders on Tuesday approved Medtronic's proposed $43 billion merger with Covidien, which is set to close by early next month. The move came a few hours after a similar announcement from Covidien's shareholders. The deal is still awaiting approval from the High Court of Ireland.
A plan by New Zealand and Australia to create a single agency to regulate the medical device sector in both countries has been dropped after a review of the costs and progress of the plan. Australia's Therapeutic Goods Administration and New Zealand's Medicines and Medical Devices Safety Authority will continue to oversee their respective markets separately.
NaviMed Partners, which invests in health care companies, has secured $40.7 million from five undisclosed backers. The venture capital firm's portfolio includes connections to Endius, which develops minimally invasive devices used in spinal surgery, and Barrx Medical, which was purchased by Covidien in 2011.
Covidien has tapped Jacqueline Strayer to replace Eric Kraus as its senior vice president of corporate communications. Strayer formerly served as senior vice president of corporate communications at Johnson Controls and Arrow Electronics.