Global Healthcare Leader Covidien Separates from Tyco International; Company to Debut on New York Stock Exchange

Covidien Ltd. (NYSE: COV, BSX: COV) began trading today on the New
York and Bermuda Stock Exchanges, marking its debut as an independent
diversified healthcare products company. The business, formerly known
as Tyco Healthcare, recently spun off from Tyco International.

"This is an exciting day for our company, our customers, our
employees and our shareholders," said Richard J. Meelia, President and
CEO of Covidien.

"Covidien is distinguished by its outstanding portfolio of
well-established and highly respected global brands that are leaders
in several fast-growing product categories," Mr. Meelia said. "As a
premier provider of medical devices, supplies, imaging products and
pharmaceuticals, we look forward to strengthening our longtime
collaborative partnerships with medical professionals and institutions
as we identify critical clinical needs and meet them with innovative,
quality products."

With industry-leading brand names that include Autosuture,
Kendall, Mallinckrodt, Nellcor, Puritan Bennett, Syneture, U.S.
Surgical and Valleylab, Covidien products compete in five business
segments: Medical Devices, Imaging Solutions, Pharmaceutical Products,
Medical Supplies and Retail Products. Revenue in 2006 was $9.6
billion, with over one-third of Covidien's sales outside the United
States. Covidien employs more than 43,000 people in 57 countries, and
its products are distributed in over 130 countries.

"As an independent $9.6 billion company, we expect to drive
accelerated growth through strategic initiatives that focus
exclusively on healthcare and through our increased flexibility to
invest in innovation," Mr. Meelia said. "In addition to significantly
expanding our global sales presence, we are increasing R&D investment
and funding opportunities within our family of businesses that have
the greatest potential to deliver sustained profitable growth. Our
goal is to establish our position as the world's leading healthcare
products company and, as Covidien, we have the people, the products
and the vision to succeed."

Key highlights of Covidien's five business segments follow.

Medical Devices (59% of sales)

-- The largest business segment, Medical Devices generated net
sales of $5.7 billion in 2006.

-- This diversified segment is a global leader in many areas of
the medical devices marketplace, with no single product
accounting for more than 1% of total sales.

-- Reflecting Covidien's broad global footprint, 54% of Medical
Devices sales are outside of the U.S.

-- Medical Devices is home to numerous innovations in Surgical
Devices, Energy-Based Devices, Respiratory and Monitoring
Solutions, and Patient Care and Safety Products.

Imaging Solutions (9% of sales)

-- Imaging Solutions products generated net sales of $0.9 billion
in 2006.

-- With the overarching goal of early disease diagnoses of the
highest accuracy, Covidien's Imaging Solutions is a global
leader in the production of Radiopharmaceuticals, Contrast
Agents and Contrast Delivery Systems across multiple
modalities (X-ray, MRI and nuclear medicine).

-- Following an enterprise-wide philosophy of innovation, Imaging
Solutions is evolving medical imaging technology from a focus
on anatomical and functional imaging to imaging at the
molecular level. This shift will help clinicians diagnose,
treat and monitor diseases at much earlier stages.

Pharmaceutical Products (13% of sales)

-- Net sales for 2006 reached $1.2 billion, with well-diversified
product lines of Dosage Pharmaceuticals, Active Pharmaceutical
Ingredients and Specialty Chemicals.

-- Covidien is the ninth largest pharmaceutical company in the
U.S. (based on the number of prescriptions dispensed).

-- As the world's largest manufacturer of controlled substances,
Covidien is at the forefront of patient safety and controlled
substances regulation.

-- Covidien is also the global leader in the production of
acetaminophen and many other pain management treatments.

Medical Supplies (10% of sales)

-- With 2006 net sales of nearly $1 billion, the Medical Supplies
segment is a leading provider of patient care materials.

-- Covidien's wide range of products keeps operating rooms,
nursing stations and physicians' offices fully stocked with
clinical materials of the highest quality.

-- Product lines include Nursing Care Products, Medical Surgical
Products, Original Equipment Manufacturer Products,
Incontinence Products (Europe) and Other Products.

-- Within core medical supply categories, Covidien holds #1 or #2
market share positions.

Retail Products (9% of sales)

-- Through the Retail Products segment, Covidien is a leading
manufacturer in North America for private-label adult
incontinence, infant care and feminine hygiene products, with
2006 net sales of $0.8 billion.

-- Covidien is the sole or multi-source supplier of private-label
adult incontinence, infant care and feminine hygiene products
in 17 of the top 20 U.S. retailers.

ABOUT COVIDIEN

Covidien is a leading global healthcare products company that
creates innovative medical solutions for better patient outcomes and
delivers value through clinical leadership and excellence. Covidien
manufactures, distributes and services a diverse range of
industry-leading product lines, including Surgical Devices,
Energy-Based Devices, Respiratory and Monitoring Solutions, Patient
Care and Safety Products, Imaging Solutions, Pharmaceutical Products
and Medical Supplies. With 2006 revenue of nearly $10 billion,
Covidien has more than 43,000 employees worldwide in 57 countries, and
its products are sold in over 130 countries. Please visit
www.covidien.com to learn more about our business.

Forward-Looking Statements

This press release contains certain "forward-looking statements"
within the meaning of the United States Private Securities Litigation
Reform Act of 1995. These statements are based on management's current
expectations and are subject to risks, uncertainty and changes in
circumstances, which may cause actual results, performance or
achievements to differ materially from anticipated results,
performance or achievements. All statements contained herein that are
not clearly historical in nature are forward-looking and the words
"anticipate," "believe," "expect," "estimate," "plan," and similar
expressions are generally intended to identify forward-looking
statements.

The forward-looking statements in this press release may include
statements addressing the following subjects: future financial
condition and operating results, economic, business, competitive
and/or regulatory factors affecting Covidien's business. These are
examples of factors, among others, that could cause actual results to
differ materially from those described in the forward-looking
statements. In addition, Covidien's historical and pro forma combined
financial information is not necessarily representative of the results
it would have achieved as an independent, publicly-traded company and
may not be a reliable indicator of its future results. Covidien is
under no obligation to (and expressly disclaims any such obligation
to) update or alter its forward-looking statements whether as a result
of new information, future events or otherwise. More detailed
information about these and other factors is set forth in the
information statement included in the Covidien Ltd. Form 8-K filing of
June 8, 2007.