DUBLIN, Wednesday, September 1st 2010 [ME NewsWire]:
(BUSINESS WIRE)-- Covidien (NYSE: COV), a leading global provider of healthcare products, today announced the agenda for its investor meeting on Wednesday, September 15, 2010. The event will be held at The Plaza Hotel, Fifth Avenue at Central Park South, New York, NY. A webcast of the presentations will begin at 12:00 pm and the webcast will conclude by 5:00 pm.
The program will include presentations by Covidien's Chairman, President and CEO Richard J. Meelia and other members of the senior management team, including the leaders of each of Covidien’s three business segments. For those investors who are unable to attend the meeting in person, but who would like to ask a question of the management team during the meeting, questions can be emailed to 2010cov@gmail.com.
Agenda
10:00 am
Registration Opens
10:15 am
Product Displays and Senior Management Reception
12:00 pm
Presentations begin
-- Richard J. Meelia, Chairman, President and CEO
-- James C. Clemmer, President, Medical Supplies
-- Timothy R. Wright, President, Pharmaceuticals
-- José (Joe) E. Almeida, President, Medical Devices
-- Joseph Woody, President, Vascular Therapies
4:00 pm
Charles J. Dockendorff, Chief Financial Officer
5:00 pm
Presentations and webcast end
Advanced registration is required and attendance will be limited to those who register in advance. To register for the meeting, please go to the following website: http://www.zoomerang.com/Survey/WEB22AVCGMQHWX
Individuals who are unable to attend the meeting in person will be able to view a live video and webcast at Covidien’s website: http://investor.covidien.com. A replay of the presentations and the presentation materials will be available at the same website following the conclusion of the meeting.
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,
Communications
eric.kraus@covidien.com
Bruce Farmer, 508-452-4372
Vice President
Public Relations
bruce.farmer@covidien.com
Coleman Lannum, CFA, 508-452-4343
Vice President
Investor Relations
cole.lannum@covidien.com
Brian Nameth, 508-452-4363
Director
Investor Relations
brian.nameth@covidien.com
Showing posts with label Covidien. Show all posts
Showing posts with label Covidien. Show all posts
Wednesday, September 1, 2010
Monday, August 30, 2010
Covidien Completes Sale of Sleep Therapy Product Line
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
(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
Wednesday, July 28, 2010
Covidien Completes Acquisition of Somanetics Corporation
DUBLIN, Wednesday, July 28th 2010 [ME NewsWire]:
(BUSINESS WIRE)-- Covidien (NYSE: COV), a leading global provider of healthcare products, today announced that it has completed the previously announced acquisition of Somanetics Corporation for an aggregate consideration of approximately $250 million, net of cash and short-term investments acquired.
Pursuant to the terms of the merger agreement, Covidien DE Corp., an indirect wholly-owned subsidiary of Covidien, exercised its option to purchase newly issued shares from Somanetics at the tender offer price of $25.00 per share. Following the purchase, Covidien DE Corp. owned sufficient shares to effect a short-form merger with and into Somanetics, which then became an indirect wholly-owned subsidiary of Covidien. Thereafter, Somanetics common shares ceased to be traded on the NASDAQ Global Market.
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 $10.7 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
Bruce Farmer, 508-452-4372
Vice President
Public Relations
bruce.farmer@covidien.com
Coleman Lannum, CFA,
508-452-4343
Vice President
Investor Relations
cole.lannum@covidien.com
Brian Nameth,
508-452-4363
Director
Investor Relations
brian.nameth@covidien.com
(BUSINESS WIRE)-- Covidien (NYSE: COV), a leading global provider of healthcare products, today announced that it has completed the previously announced acquisition of Somanetics Corporation for an aggregate consideration of approximately $250 million, net of cash and short-term investments acquired.
Pursuant to the terms of the merger agreement, Covidien DE Corp., an indirect wholly-owned subsidiary of Covidien, exercised its option to purchase newly issued shares from Somanetics at the tender offer price of $25.00 per share. Following the purchase, Covidien DE Corp. owned sufficient shares to effect a short-form merger with and into Somanetics, which then became an indirect wholly-owned subsidiary of Covidien. Thereafter, Somanetics common shares ceased to be traded on the NASDAQ Global Market.
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 $10.7 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
Bruce Farmer, 508-452-4372
Vice President
Public Relations
bruce.farmer@covidien.com
Coleman Lannum, CFA,
508-452-4343
Vice President
Investor Relations
cole.lannum@covidien.com
Brian Nameth,
508-452-4363
Director
Investor Relations
brian.nameth@covidien.com
Covidien Completes Tender Offer for Shares of Somanetics Corporation
DUBLIN, Wednesday, July 28th 2010 [ME NewsWire]:
(BUSINESS WIRE)-- Covidien (NYSE: COV), a leading global provider of healthcare products, today announced the completion of its tender offer through its subsidiary, Covidien DE Corp., to purchase all of the outstanding common shares of Somanetics Corporation. The tender offer expired at 12:01AM ET, on July 27, 2010, and was not extended.
The depositary for the tender offer has advised Covidien that, as of the expiration of the offering period, a total of approximately 9,583,628 common shares of Somanetics were validly tendered and not withdrawn (not including approximately 581,060 shares subject to guaranteed delivery procedures), representing approximately 80.2% of the outstanding Somanetics common shares. All shares that were validly tendered and not properly withdrawn during the initial offering period have been accepted for payment.
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 $10.7 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
Senior Vice President
Corporate Communications
508-261-8305
eric.kraus@covidien.com
Bruce Farmer
Vice President
Public Relations
508-452-4372
bruce.farmer@covidien.com
Coleman Lannum, CFA
Vice President
Investor Relations
508-452-4343
cole.lannum@covidien.com
Brian Nameth
Director
Investor Relations
508-452-4363
brian.nameth@covidien.com
(BUSINESS WIRE)-- Covidien (NYSE: COV), a leading global provider of healthcare products, today announced the completion of its tender offer through its subsidiary, Covidien DE Corp., to purchase all of the outstanding common shares of Somanetics Corporation. The tender offer expired at 12:01AM ET, on July 27, 2010, and was not extended.
The depositary for the tender offer has advised Covidien that, as of the expiration of the offering period, a total of approximately 9,583,628 common shares of Somanetics were validly tendered and not withdrawn (not including approximately 581,060 shares subject to guaranteed delivery procedures), representing approximately 80.2% of the outstanding Somanetics common shares. All shares that were validly tendered and not properly withdrawn during the initial offering period have been accepted for payment.
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 $10.7 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
Senior Vice President
Corporate Communications
508-261-8305
eric.kraus@covidien.com
Bruce Farmer
Vice President
Public Relations
508-452-4372
bruce.farmer@covidien.com
Coleman Lannum, CFA
Vice President
Investor Relations
508-452-4343
cole.lannum@covidien.com
Brian Nameth
Director
Investor Relations
508-452-4363
brian.nameth@covidien.com
Thursday, July 22, 2010
Covidien Declares Quarterly Cash Dividend
DUBLIN, Thursday, July 22nd 2010 [ME NewsWire]:
(BUSINESS WIRE)-- Covidien plc (NYSE: COV) today announced that its Board of Directors has declared a quarterly cash dividend of $0.18 per ordinary share. The dividend is payable on August 20, 2010, to shareholders of record on August 2, 2010.
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 $10.7 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
(BUSINESS WIRE)-- Covidien plc (NYSE: COV) today announced that its Board of Directors has declared a quarterly cash dividend of $0.18 per ordinary share. The dividend is payable on August 20, 2010, to shareholders of record on August 2, 2010.
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 $10.7 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
Tuesday, July 13, 2010
Covidien Completes Acquisition of ev3 Inc.
DUBLIN, Tuesday, July 13th 2010 [ME NewsWire]:
(BUSINESS WIRE)-- Covidien (NYSE: COV), a leading global provider of healthcare products, today announced that it has completed the previously announced acquisition of ev3 Inc. for an aggregate consideration of approximately $2.6 billion, net of cash and short-term investments acquired.
The tender offer expired at 12:00 midnight ET, at the end of July 9, 2010. At that time, the depositary for the offer advised Covidien that 100,814,535 shares of ev3 common stock had been validly tendered and not withdrawn, representing approximately 87.7% of the outstanding ev3 common shares. All shares that were validly tendered and not withdrawn were accepted for purchase and paid for in accordance with the tender offer. An additional 4,246,384 shares, or approximately 3.7% of the outstanding ev3 common shares, had been tendered pursuant to notices of guaranteed delivery.
Pursuant to the terms of the merger agreement, COV Delaware Corporation, an indirect wholly-owned subsidiary of Covidien, exercised its option to purchase newly issued shares from ev3 at the tender offer price. Following the purchase, COV Delaware Corporation owned sufficient shares to effect a short-form merger with and into ev3. The merger was completed today and ev3 became an indirect wholly-owned subsidiary of Covidien. Thereafter, ev3 common stock ceased to be traded on the NASDAQ.
This transaction further accelerates Covidien’s strategy of building a world-class vascular platform addressing high-growth markets and positions Covidien to become a leading endovascular player, with strong positions in both the peripheral vascular and neurovascular markets. The acquisition brings Covidien a comprehensive portfolio of treatment options, including the primary interventional technologies used today: peripheral angioplasty balloons, stents, plaque excision systems, embolic protection devices, liquid embolics, embolization coils, flow diversion, thrombectomy catheters and occlusion balloons.
“The acquisition of ev3 will enable Covidien to significantly expand its presence in the vascular market and is in line with our strategy of becoming a leading partner with vascular surgeons, neurosurgeons, interventional cardiologists and interventional radiologists,” said Richard J. Meelia, Chairman, President and CEO. “With its broad product portfolio, clinical expertise and call-point synergies with our existing vascular franchise, ev3 will be an important addition to our innovative vascular intervention products.”
Covidien will report ev3 as part of its Vascular Products line in the Medical Devices business segment.
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 $10.7 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
(BUSINESS WIRE)-- Covidien (NYSE: COV), a leading global provider of healthcare products, today announced that it has completed the previously announced acquisition of ev3 Inc. for an aggregate consideration of approximately $2.6 billion, net of cash and short-term investments acquired.
The tender offer expired at 12:00 midnight ET, at the end of July 9, 2010. At that time, the depositary for the offer advised Covidien that 100,814,535 shares of ev3 common stock had been validly tendered and not withdrawn, representing approximately 87.7% of the outstanding ev3 common shares. All shares that were validly tendered and not withdrawn were accepted for purchase and paid for in accordance with the tender offer. An additional 4,246,384 shares, or approximately 3.7% of the outstanding ev3 common shares, had been tendered pursuant to notices of guaranteed delivery.
Pursuant to the terms of the merger agreement, COV Delaware Corporation, an indirect wholly-owned subsidiary of Covidien, exercised its option to purchase newly issued shares from ev3 at the tender offer price. Following the purchase, COV Delaware Corporation owned sufficient shares to effect a short-form merger with and into ev3. The merger was completed today and ev3 became an indirect wholly-owned subsidiary of Covidien. Thereafter, ev3 common stock ceased to be traded on the NASDAQ.
This transaction further accelerates Covidien’s strategy of building a world-class vascular platform addressing high-growth markets and positions Covidien to become a leading endovascular player, with strong positions in both the peripheral vascular and neurovascular markets. The acquisition brings Covidien a comprehensive portfolio of treatment options, including the primary interventional technologies used today: peripheral angioplasty balloons, stents, plaque excision systems, embolic protection devices, liquid embolics, embolization coils, flow diversion, thrombectomy catheters and occlusion balloons.
“The acquisition of ev3 will enable Covidien to significantly expand its presence in the vascular market and is in line with our strategy of becoming a leading partner with vascular surgeons, neurosurgeons, interventional cardiologists and interventional radiologists,” said Richard J. Meelia, Chairman, President and CEO. “With its broad product portfolio, clinical expertise and call-point synergies with our existing vascular franchise, ev3 will be an important addition to our innovative vascular intervention products.”
Covidien will report ev3 as part of its Vascular Products line in the Medical Devices business segment.
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 $10.7 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
Monday, July 12, 2010
Covidien Successfully Completes Tender Offer for Shares of ev3 Inc.
DUBLIN, Monday, July 12th 2010 [ME NewsWire]:
(BUSINESS WIRE)-- Covidien (NYSE: COV), a leading global provider of healthcare products, today announced the successful completion of its tender offer through its subsidiary, COV Delaware Corporation, to purchase all of the outstanding shares of common stock of ev3 Inc. The tender offer expired at 12:00 midnight ET, at the end of July 9, 2010, and was not extended.
The depositary for the tender offer has advised Covidien that, as of the expiration of the offering period, a total of approximately 100,814,535 shares of ev3 common stock were validly tendered and not withdrawn (not including approximately 4,246,384 shares subject to guaranteed delivery procedures), representing approximately 87.7% of the outstanding ev3 common shares. All shares that were validly tendered and not withdrawn during the initial offering period have been accepted for payment.
Pursuant to the terms of the merger agreement, COV Delaware Corporation will exercise its option to purchase newly issued shares from ev3 at the tender offer price, which will permit Covidien to complete the acquisition process by effecting a short-form merger as promptly as practicable, that is, without a vote or meeting of ev3’s remaining stockholders. Following the merger, ev3 will become an indirect wholly-owned subsidiary of Covidien, and each share of ev3’s outstanding common stock will be cancelled and converted into the right to receive the same consideration, without interest, received by holders who tendered in the tender offer. Thereafter, ev3 common stock will cease to be traded on the NASDAQ.
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 $10.7 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:
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
(BUSINESS WIRE)-- Covidien (NYSE: COV), a leading global provider of healthcare products, today announced the successful completion of its tender offer through its subsidiary, COV Delaware Corporation, to purchase all of the outstanding shares of common stock of ev3 Inc. The tender offer expired at 12:00 midnight ET, at the end of July 9, 2010, and was not extended.
The depositary for the tender offer has advised Covidien that, as of the expiration of the offering period, a total of approximately 100,814,535 shares of ev3 common stock were validly tendered and not withdrawn (not including approximately 4,246,384 shares subject to guaranteed delivery procedures), representing approximately 87.7% of the outstanding ev3 common shares. All shares that were validly tendered and not withdrawn during the initial offering period have been accepted for payment.
Pursuant to the terms of the merger agreement, COV Delaware Corporation will exercise its option to purchase newly issued shares from ev3 at the tender offer price, which will permit Covidien to complete the acquisition process by effecting a short-form merger as promptly as practicable, that is, without a vote or meeting of ev3’s remaining stockholders. Following the merger, ev3 will become an indirect wholly-owned subsidiary of Covidien, and each share of ev3’s outstanding common stock will be cancelled and converted into the right to receive the same consideration, without interest, received by holders who tendered in the tender offer. Thereafter, ev3 common stock will cease to be traded on the NASDAQ.
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 $10.7 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:
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
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