Covidien (NYSE: COV) develops and manufactures healthcare products. Headquartered in Dublin, Ireland.
Covidien develops, manufactures and sells healthcare products for use in clinical and home settings. They operate their business through the following four segments:
- Medical Devices includes the development, manufacture and sale of endomechanical instruments, soft tissue repair products, energy devices, oximetry and monitoring products, airway and ventilation products, vascular devices, sharpsafety products, clinical care products and other medical device products.
- Imaging Solutions includes the development, manufacture and marketing of radiopharmaceuticals and contrast products.
- Pharmaceutical Products includes the development, manufacture and distribution of dosage pharmaceuticals and active pharmaceutical ingredients.
- Medical Supplies includes the development, manufacture and sale of nursing care products, medical surgical products and original equipment manufacturer products (OEM).
Source: Covidien, Ltd. May 4th, 2009 10-Q
Covidien's Mallinckrodt Baker division is a leading supplier of laboratory chemicals in competition with Thermo Fisher Scientific and Sigma-Aldrich. The business was sold to New Mountain Capital in 2010, and now operates under the name Avantor Performance Materials of Center Valley, PA.
In December, 2011, Covidien announced plans to spin off its drug manufacturing unit. The unit processes opium to isolate medical grades of morphine, etc. It also is a leading manufacturer of acetaminophen, the active ingredient in Tylenol. They also supply x-ray contrast agents and related imaging materials. The Mallinckrodt name could be revived for the new company.
In 2013, pharmaceutical and imaging products businesses were spun off as Mallinckrodt Pharmaceuticals.
In 2014, a proposed merger with Medtronic is under review.