Medtronic secures approval to buy Covidien after agreeing to divestitures

Medical device maker Medtronic Inc. resolved the Competition Bureau’s concern that its acquisition of competitor Covidien PLC would reduce competition for the supply of drug-coated balloon catheters for the treatment of peripheral artery disease by agreeing to sell Covidien’s drug-coated balloon catheter business to Spectanetics. Medtronic and Covidien signed a consent agreement with the Bureau.