Covidien Ltd. (NYSE: COV, BSX: COV) today announced that it has
reached a definitive agreement to sell its European Incontinence
business to a private French company who will rename the business
Lille Healthcare. Terms of the agreement were not disclosed.
Covidien´s European Incontinence business, which is headquartered
in Lille, France, was formerly part of Covidien´s Medical Supplies
segment and had sales of $109 million in fiscal 2007. The transaction,
which is subject to customary closing conditions, is expected to be
completed in the second calendar quarter of 2008.
ABOUT COVIDIEN LTD.
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 in four segments: Medical Devices,
Imaging Solutions, Pharmaceutical Products and Medical Supplies. With
2007 revenue of nearly $9 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.
