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Covidien Plc history, profile and corporate video

Covidien Plc engages in the development, manufacture and sale of healthcare products for use in clinical and home settings. It operates through three segments: Medical Devices, Pharmaceuticals and Medical Supplies. The Medical Devices segment includes the development, manufacture and sale of endomechanical instruments, energy devices, soft tissue repair products, vascular products, oximetry and monitoring products, airway and ventilation products, and other medical products. The Pharmaceuticals segment includes the development, manufacture and distribution of specialty pharmaceuticals, active pharmaceutical ingredients, contrast products and radiopharmaceuticals. The Medical Supplies segment includes the development, manufacture and sale of nursing care products, medical surgical products, SharpSafety products and original equipment manufacturer products. The company was founded on June 29, 2007 and is headquartered in Dublin, Ireland.

Covidien History

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

In June 2014, Medtronic agreed to buy Covidien for $42.9 billion”

*Information from Forbes.com and Wikipedia.org

**Video published on YouTube by “degobimusic