DUBLIN, Monday, August 30th 2010 [ME NewsWire]:
(BUSINESS WIRE)-- Covidien (NYSE: COV), a leading global provider of healthcare products, today announced that it has completed the previously announced sale of its Sleep Therapy continuous positive airway pressure (CPAP) and Bi-level products to PH Invest, a privately held company located in Luxembourg. Financial terms of the transaction were not disclosed.
The sale, including the Nancy, France manufacturing facility, related commercial operations in Europe and products sold under the GoodKnight™ and Sandman™ brands, was made following a thorough review and evaluation of a number of strategic alternatives. The decision is consistent with Covidien’s strategy to streamline its portfolio and reallocate resources to its faster-growing, higher-margin businesses, where the Company has, or can develop, a global competitive advantage.
The transaction is not expected to have a material effect on Covidien’s operating income or earnings per share for fiscal 2010 or 2011.
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 three segments: Medical Devices, Pharmaceuticals and Medical Supplies. With 2009 revenue of $10.3 billion, Covidien has 42,000 employees worldwide in more than 60 countries, and its products are sold in over 140 countries. Please visit www.covidien.com to learn more about our business.
For media enquiries, please contact:
Covidien
Eric Kraus, 508-261-8305
Senior Vice President
Corporate Communications
eric.kraus@covidien.com
Coleman Lannum, CFA, 508-452-4343
Vice President
Investor Relations
cole.lannum@covidien.com
Bruce Farmer, 508-452-4372
Vice President
Public Relations
bruce.farmer@covidien.com
Brian Nameth, 508-452-4363
Director
Investor Relations
brian.nameth@covidien.com
No comments:
Post a Comment