Covidien was an Irish-headquartered global health care products company and manufacturer of medical devices and supplies. Covidien became an independent publicly traded company after being spun off from

Tyco International Tyco International plc was a security systems company incorporated in the Republic of Ireland, with operational headquarters in Princeton, New Jersey, United States (Tyco International (US) Inc.). Tyco International was composed of two major b ...

in 2007. It was purchased by Medtronic in a transaction that closed in 2015. The now-merged company is headquartered in

Ireland Ireland ( ; ga, Éire ; Ulster Scots dialect, Ulster-Scots: ) is an island in the Atlantic Ocean, North Atlantic Ocean, in Northwestern Europe, north-western Europe. It is separated from Great Britain to its east by the North Channel (Grea ...

, where Covidien was based.

History

In 2007, Covidien was formed when

spun off its health care business. In 2012, Covidien acquired Newport Medical Instruments, a small ventilator manufacturer supplier. Newport Medical Instruments had been contracted in 2006 by the U.S. Department of Health and Human Services' Biomedical Advanced Research and Development Authority to design a cheap, portable ventilator. At the time, Newport Medical Instruments had three working prototypes produced, and was on schedule to file for market approval late 2013. Covidien then effectively halted the project, subsequently exiting the contract, citing the reason that it was not profitable enough. Government officials and other medical equipment suppliers suspected that the Newport acquisition was largely done to prevent a cheaper product from undermining Covidien's existing ventilator business. This contributed to the shortage of ventilators during the

COVID-19 pandemic The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identi ...

. In October 2013, Covidien sold its Confluent Surgical product line for $235 million to

Integra LifeSciences Integra LifeSciences is a global medical device manufacturing company headquartered in Princeton, New Jersey. Founded in 1989, the company manufactures products for skin regeneration, neurosurgery, reconstructive and general surgery. Integra art ...

, including its DuraSeal, VascuSeal and SprayShield products. In January 2014, Covidien acquired WEM Electronic Equipment, based in

Ribeirão Preto Ribeirão Preto (Portuguese pronunciation: �ibejˈɾɐ̃w ˈpɾetu is a municipality and a metropolitan area located in the northeastern region of São Paulo state, Brazil. Ribeirão Preto is the eighth-largest municipality in the State wit ...

, Brazil. In June 2014, Covidien agreed to be acquired by Medtronic for $42.9 billion.

References

External links

Covidien.com

Covidien Company Profile at MarketWatch

Key Statistics
{{Pharmaceutical companies of the United States Medtronic Tyco International Health care companies of Ireland Companies formerly listed on the New York Stock Exchange Multinational companies Defunct pharmaceutical companies of the United States Companies based in Massachusetts Pharmaceutical companies established in 2007 Health care companies established in 2007 Corporate spin-offs 2015 mergers and acquisitions Tax inversions