Covidien Ltd. (NYSE: COV, BSX: COV) today announced that it had
completed the previously announced sale of its Retail Products
business to an affiliate of First Quality Enterprises, Inc. for $330
million in cash.
The sale of Retail Products is part of Covidien´s strategy to
focus its portfolio and reallocate resources to its core healthcare
business. This portfolio strategy also includes the
previously-announced definitive agreement to sell Covidien´s European
Incontinence business, as well as the plan to divest its Specialty
Chemicals business.
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 in four segments: Medical Devices
Imaging Solutions, Pharmaceutical Products and Medical Supplies. With
2007 revenue of nearly $9 billion, Covidien has more than 42,000
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.
