- Covidien
-
Covidien 
Type Public (NYSE: COV) Industry Health Care Products Headquarters Dublin, Ireland
Mansfield, Massachusetts, USAArea served Worldwide Key people Joe Almeida
(Chairman) & (CEO)Products Pharmaceuticals
Medical Devices
Surgical Supplies
Medical SuppliesRevenue 
USD 10.4 Billion (2008)Operating income USD 2.00 Billion (2008)Net income USD 1.4 Billion (2008)Total assets USD 16 Billion (2008)Total equity USD 8 Billion (2008)Employees 41,800 (2010) Website Covidien.com Covidien (NYSE: COV), formerly Tyco Healthcare, is a healthcare device and supply company, incorporated in Dublin, Ireland, although its corporate offices are located in Mansfield, Massachusetts. On June 29, 2007, Covidien became an independent publicly traded company after being spun off from Tyco International.
Contents
History
In 1995 Richard J. Meelia became President of the Tyco Healthcare division. Meelia continued in that position until the spin-off. In 2011, Joe Almeida became the President and CEO of 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. Key product categories include:[1]
• 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.[1]
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. Today, Covidien has more than 41,000 employees in 59 countries and its products are sold in more than 140 countries worldwide.It has just been announced circa 01/09/2011 to close the plant in Chesterfield, UK which makes paramenophenol, with the loss of 64 jobs.
Tracheostomy tube recalls
In April 2010, Covidien recalled their Certain Shiley branded Tracheostomy Tubes after it was reported that three people died while using them.[2]
Structure
Covidien at Fenway Park
Segment Overview
Medical devices
- Energy-based devices
- Respiratory and monitoring solutions
- Surgical devices
- Vascular therapies
Medical Supplies
- Nursing care
- Original equipment manufacturer (OEM)
- Medical surgical
- SharpSafety products
Pharmaceuticals
- Active pharmaceutical ingredients
- Contrast products
- Radiopharmaceuticals
- Specialty chemicals
- Specialty pharmaceuticals
Etymology
The company name stems from the Latin words: “Co” which stands for together and “vi” for life.
Industry brands
- Autosuture
- ev3 (peripheral and neuro endovascular products)
- Kendall
- Ligasure
- Mallinckrodt
- Nellcor
- Puritan Bennett
- SharpSafety
- Shiley (Airway products)
- Syneture (Wound closure sutures and Mesh)
- Valleylab
References
- ^ a b 2004 Annual Report, Tyco International Ltd.
- ^ http://www.fda.gov/Safety/Recalls/ucm209709.htm
External links
Data
Categories:- Companies listed on the New York Stock Exchange
- Companies of Ireland
- Tyco International
- Health care companies of Ireland
- Dow Jones Industrial Average
- Multinational companies
- Pharmaceutical companies of the United States
- Companies based in Massachusetts
Wikimedia Foundation. 2010.
