Full Description

Covidien plc, formerly Covidien Ltd., incorporated in 2000, is engaged in the development, manufacture and sale of healthcare products for use in clinical and home settings. The Company operates its business through four segments: Medical Devices, which includes the development, manufacture and sale of endomechanical instruments, soft tissue repair products, energy devices, oximetry and monitoring products, airway and ventilation products, vascular devices, SharpSafety products, clinical care products and other medical device products; Imaging Solutions, which includes the development, manufacture and marketing of radiopharmaceuticals and contrast products; Pharmaceutical Products, which includes the development, manufacture and distribution of dosage pharmaceuticals and active pharmaceutical ingredients, and Medical Supplies, which includes the development, manufacture and sale of nursing care products, medical surgical products and original equipment manufacturer products (OEM). The Company’s customers include hospitals, surgi-centers, alternate site facilities, including long-term care facilities and imaging centers, drug manufacturers and retailers throughout the world. In June 2009, Covidien plc announced that one of its subsidiaries has completed the acquisition of VNUS Medical Technologies, Inc. In September 2009, the Company completed the acquisition of Power Medical Interventions Inc. In November 2009, the Company completed the acquisition of Aspect Medical Systems Inc.

During the fiscal year ended September 26, 2008 (fiscal 2008), the Company sold its Retail Products segment and European Incontinence business. In fiscal 2008, Medical Devices segment acquired Tissue Science Laboratories plc, a medical device company dedicated to the research, development and commercialization of tissue implant products for surgical and wound care therapies. In August 2008, the Company announced that it has established Covidien Ventures, a corporate venture capital function.

Medical Devices

The Company’s endomechanical instruments include its laparoscopic instruments and surgical staplers. Its soft tissue repair products include its suture products, mesh products and biosurgery products. Its energy devices include its vessel sealing products, electrosurgical products, ablation products and related capital equipment. The Company’s oximetry and monitoring products include its sensors and monitors products and its temperature management products. Its airway and ventilation products include its airway products, ventilator products, breathing systems, sleep products and inhalation therapy products. Its vascular devices include its compression products and vascular therapy products. The Company’s sharpsafety products include its needle and syringe products and its sharps disposable products. Its clinical care products include its urology products, enteral feeding products and other advanced woundcare products.

The Company expanded its offerings of surgical mesh and implant products for hernia repair through its acquisitions of Tissue Science Laboratories plc and Floreane Medical Implants, S.A. and the acquisition of intellectual property from Sorbx, LLC. In fiscal 2008, it launched the AbsorbaTack absorbable mesh fixation device for hernia repair in both the United States and Europe. Covidien is also developing and marketing a line of biosurgery solutions, including internal sealants, topical adhesives and anti-adhesion products.

The Company offers a line of products used to monitor, diagnose and treat respiratory disease and sleep disorders. Through its Nellcor brand, the Company established pulse oximetry, which measures oxygen in the blood. Its Puritan Bennett brand is engaged in the field of high-acuity ventilators. The Company is engaged in the field of airway management with its line of Mallinckrodt endotracheal tubes and Shiley tracheostomy tubes. The Company’s Sandman sleep diagnostic system is a product for the diagnosis of sleep disorders.

The Company competes with Johnson & Johnson, C.R. Bard and Becton Dickinson and ConMed.

Imaging Solutions

Imaging Solutions segment develops, manufactures and markets products, such as radiopharmaceuticals, which includes radioactive isotopes and associated pharmaceutical products used for the diagnosis and treatment of disease, and contrast products, which includes contrast delivery systems and contrast agents. The Company’s imaging products are designed to enhance the quality of images obtained through computed tomography (CT) scans, x-ray, magnetic resonance (MR) and nuclear medicine procedures to improve the detection and diagnosis of disease. Some of its key products include Optiray non-ionic x-ray contrast agent, OptiMARK magnetic resonance imaging agent, OptiVantage contrast delivery system and OctreoScan, a nuclear medicine imaging agent for cancer.

In fiscal 2008, it launched a sestamibi-based contrast agent for cardiological procedures and two new delivery systems, Optistar Elite and Optivantage. The Company also acquired hand-held injectors from Pinyons Medical Technology Inc. to complement its line of injector products. The Company markets imaging products primarily to physicians, technologists and purchasing administrators at hospitals, imaging centers, cardiology clinics and radiopharmacies. It also operates its own network of 41 radiopharmacies, which provides a distribution channel for services, such as real-time delivery of nuclear medicine unit doses.

The Company competes with GE Healthcare, Schering AG, Lantheus Medical Imaging and Cardinal Health.

Pharmaceutical Products

The Pharmaceutical Products segment develops, manufactures and distributes the products, such as dosage pharmaceuticals, active pharmaceutical ingredients (API). Covidien’s dosage pharmaceuticals deliver prescriptions of finished products, which include brand pharmaceuticals, generic pharmaceuticals and addiction treatment products. The Company’s API is a producer of both medicinal narcotics and acetaminophen, as well as a supplier of other active pharmaceutical ingredients, including peptides, generic APIs, stearates and phosphates to the pharmaceutical industry. The Company’s Mallinckrodt brand manufactures medicinal narcotics and acetaminophen. API includes manufacturing, packaging and distribution of prescription pharmaceuticals.

The Company competes with Johnson & Johnson, Siegfried, Johnson Matthey, Teva, Mylan and Watson.

Medical Supplies

The Medical Supplies segment develops, manufactures and distributes the products, such as nursing care products, medical surgical products and OEM products. Nursing care products include its traditional woundcare, incontinence and suction products. Medical surgical products include its operating room supply products and related accessories, electrodes and chart paper product lines within the United States. OEM includes various medical supplies, such as needles and syringes, for a number of medical device companies. The Company’s Devon brand is a provider operating room kits and accessories. Under its Medi-Trace brand, the Company offers a line of monitoring, diagnostic and defibrillation electrodes.

The Company competes with 3M, ConMed, First Quality, Cardinal Health and Medline.