Tyco Healthcare to separate from parent co., get new name
Tyco Healthcare announced that it will now be known as Covidien once the division separates from parent company Tyco International this spring and becomes an independent, publicly-traded company.
Tyco Healthcare is a global manufacturer and distributor of medical products, with annual sales of nearly $10 billion. Its product portfolio includes disposable medical supplies, monitoring equipment, medical instruments and bulk analgesic pharmaceuticals.
The Covidien brand will be the umbrella identity for brand names such as Autosuture, Kendall, Mallinckrodt, Nellcor, Puritan Bennett, Syneture, and Valleylab.
The healthcare company employs over 43,000 people worldwide. As an independent, the company plans to embark on a new direction that focuses exclusively on healthcare and benefits from increased flexibility to invest in innovation and organic growth, the company said.