Mallinckrodt Plc agreed to acquire Ikaria Inc. for about $2.3 billion from a group of investors led by Madison Dearborn Partners to expand in neonatal intensive care treatments.

The acquisition bolsters Mallinckrodt’s hospital business by adding to its current base of diagnostic radiology and pain management in surgical specialties, the company said in a statement on Thursday. Ikaria’s top product, INOmax, treats premature infants with breathing difficulties.

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