Covidien

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Covidien
Type Public
Traded as NYSECOV
S&P 500 Component
Industry Medical equipment
Headquarters Dublin, Ireland
Area served Worldwide
Key people Jose Almeida
(Chairman) & (CEO)
Products Pharmaceuticals
Medical Devices
Surgical Supplies
Medical Supplies
Revenue Increase USD 11.9 Billion (2012)
Operating income Increase USD 2.4 Billion (2012)
Net income Increase USD 1.9 Billion (2012)
Total assets Increase USD 16 Billion (2008)
Total equity Increase USD 8 Billion (2008)
Employees 43,000 (2012)
Website Covidien.com

Covidien Public Limited Company is an Irish-headquartered global healthcare products company and manufacturer of medical devices and supplies. Covidien became an independent publicly traded company after being spun off from Tyco International in 2007.

History[edit]

Tyco Healthcare was founded in 1960. In 1995 Richard J. Meelia became President of the Tyco Healthcare division. Meelia continued in that position until the spin-off. In 2007, Tyco Healthcare changed its name to Covidien.

Between 1996 and 2002, prior to the spinoff from Tyco, more than 50 companies were acquired, significantly expanding the range of product offerings. Today, Covidien products are used in most every area of the hospital, and in many other healthcare settings.

In 2007, Tyco filed with the SEC for permission to spin off its healthcare division into a separate, independent and publicly traded company. The separation was effective June 29, 2007.

In 2011, Jose E. Almeida became the President and CEO of Covidien. in 2011, Covidien had more than 41,000 employees in 59 countries and its products are sold in more than 140 countries worldwide

In 2012, Covidien acquired three medical device companies in Israel:

  • superDimension, a pulmonary endoscope developer was acquired for $350 million[1]
  • Oridion Systems Ltd. (SWX: ORIDN), capnography respiratory monitors and modules manufacturer was acquired for $346 million[2]
  • PolyTouch, a developer of hernia mesh placement technologies was acquired for $30-40 million[1]

In June 2014, Medtronic agreed to buy Covidien for $42.9 billion[3]

Product Categories[edit]

Key product categories include:[4]

Endomechanical instruments, including laparoscopic instruments and surgical staplers.

Soft Tissue Repair products, including sutures, mesh and biosurgery products.

Energy devices, including vessel sealing products, electrosurgical products, ablation products and related capital equipment.

Oximetry and Monitoring products, including sensors, monitors and temperature management products.

Airway and Ventilation products, including airway products, ventilators, breathing systems and inhalation therapy products.

Vascular products, including compression products and vascular therapy products.

SharpSafety products, including needles and syringes products and sharps disposable products.

Specialty pharmaceuticals, including branded and generic pharmaceuticals and addiction treatment products.

Active pharmaceutical ingredients, including medicinal narcotics and acetaminophen, peptides, stearates and phosphates.

Specialty Chemicals, including Mallinckrodt and J.T. Baker chemicals used in laboratories and the pharmaceutical industry.

Contrast products, including contrast delivery systems and contrast agents.

Radiopharmaceuticals, including radioactive isotopes and associated pharmaceutical products used for the diagnosis and treatment of disease.

Nursing care products, including wound care, urology, enteral feeding, incontinence and suction products.

Medical Surgical products, including operating room supplies and accessories, thermometry products, electrodes and chart paper.

Original Equipment Manufacturer products, include medical supplies such as needles and syringes manufactured for other leading medical device companies.[4]

Structure[edit]

Covidien Plant in North Haven,CT

Segment Overview

Medical devices

Medical Supplies

  • Nursing care
  • Original equipment manufacturer (OEM)
  • Medical surgical
  • SharpSafety products

Pharmaceuticals

  • Active pharmaceutical ingredients
  • Contrast products
  • Radiopharmaceuticals
  • Specialty pharmaceuticals

Etymology[edit]

The company name stems from the Latin words: “Co” which stands for together and “vi” for life.

Industry brands[edit]

  • Autosuture
  • ev3 (peripheral and neuro endovascular products)
  • Kendall
  • Ligasure
  • Mallinckrodt
  • Nellcor
  • Puritan Bennett
  • SharpSafety
  • Shiley (Airway products)
  • Syneture (Wound closure sutures and Mesh)
  • Valleylab
  • Tissue Science Laboratories
  • Sophradim
  • superDimension
  • BARRX
  • beacon endoscopic
  • GIVEN Imaging

References[edit]

  1. ^ a b Covidien shopping spree could continue The medical device company has announced three acquisitions in Israel this year, Gali Weinreb, Globes May 12 2012
  2. ^ Covidien to Buy Jerusalem-Based Oridion for $346 Million, David Wainer, Bloomberg - Apr 5, 2012
  3. ^ http://dealbook.nytimes.com/2014/06/15/medtronic-to-buy-covidien-for-42-9-billion/?_php=true&_type=blogs&_r=0
  4. ^ a b 2004 Annual Report, Tyco International Ltd.

External links[edit]