Ημερομηνία: 2/7/2007 8:30:00 πμ Περιοχή: Νέα Υόρκη ΗΠΑ Από: BW

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( BW)(COVIDIEN)(COV)(COV.BU) Global Healthcare Leader Covidien Separates from Tyco International; Company to Debut on New York Stock Exchange Formerly Tyco Healthcare, Covidien boasts diverse portfolio of innovative, market-leading healthcare products sold around the world Business Editors/Health Editors PEMBROKE, Bermuda--(BUSINESS WIRE)--July 2, 2007--Covidien Ltd. (NYSE: COV, BSX: COV) began trading today on the New York and Bermuda Stock Exchanges, marking its debut as an independent diversified healthcare products company. The business, formerly known as Tyco Healthcare, recently spun off from Tyco International. "This is an exciting day for our company, our customers, our employees and our shareholders," said Richard J. Meelia, President and CEO of Covidien. "Covidien is distinguished by its outstanding portfolio of well-established and highly respected global brands that are leaders in several fast-growing product categories," Mr. Meelia said. "As a premier provider of medical devices, supplies, imaging products and pharmaceuticals, we look forward to strengthening our longtime collaborative partnerships with medical professionals and institutions as we identify critical clinical needs and meet them with innovative, quality products." With industry-leading brand names that include Autosuture, Kendall, Mallinckrodt, Nellcor, Puritan Bennett, Syneture, U.S. Surgical and Valleylab, Covidien products compete in five business segments: Medical Devices, Imaging Solutions, Pharmaceutical Products, Medical Supplies and Retail Products. Revenue in 2006 was $9.6 billion, with over one-third of Covidien's sales outside the United States. Covidien employs more than 43,000 people in 57 countries, and its products are distributed in over 130 countries. "As an independent $10 billion company, we expect to drive accelerated growth through strategic initiatives and through our increased flexibility to invest in innovation," Mr. Meelia said. "In addition to significantly expanding our global sales presence, we are increasing R&D investment and funding opportunities within our family of businesses that have the greatest potential to deliver sustained profitable growth. Our goal is to establish our position as the world's leading healthcare products company and, as Covidien, we have the people, the products and the vision to succeed." Key highlights of Covidien's five business segments follow. Medical Devices (59% of sales) sales of $5.7 billion in 2006. the medical devices marketplace, with no single product accounting for more than 1% of total sales. Medical Devices sales are outside of the U.S. devices, respiratory & monitoring solutions, patient care & safety products and energy-based devices. Imaging Solutions (9% of sales) highest accuracy, Covidien's Imaging Solutions is a global leader in the production of contrast agents, contrast delivery systems and radiopharmaceuticals across multiple modalities (X-ray, MRI and nuclear medicine). in 2006. Solutions is evolving medical imaging technology from a focus on anatomical and functional imaging to imaging at the molecular level. This shift will help clinicians diagnose, treat and monitor diseases at much earlier stages. Pharmaceutical Products (13% of sales) U.S. (based on the number of prescriptions dispensed). product lines ranging from dosage pharmaceuticals to active pharmaceutical ingredients and specialty chemicals. Covidien is at the forefront of patient safety and controlled substances regulation. acetaminophen and many other pain management treatments. Medical Supplies (10% of sales) segment is a leading provider of patient care materials. nursing stations and physicians' offices fully stocked with clinical materials of the highest quality. products, diagnostic & monitoring electrodes and operating room kits and accessories. market share positions. Retail Products (9% of sales) manufacturer of adult incontinence, infant care and feminine hygiene products, with 2006 net sales of $855 million. Covidien leads the North American market. private-label adult incontinence, infant care and feminine hygiene products in 17 of the top 20 U.S. retailers. 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, including surgical devices, energy-based devices, respiratory and monitoring solutions, pharmaceutical products, imaging solutions, patient care and safety products, and medical supplies. With 2006 revenue of nearly $10 billion, Covidien has more than 43,000 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. Forward-Looking Statements This press release contains certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to risks, uncertainty and changes in circumstances, which may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. All statements contained herein that are not clearly historical in nature are forward-looking and the words "anticipate," "believe," "expect," "estimate," "plan," and similar expressions are generally intended to identify forward-looking statements. The forward-looking statements in this press release may include statements addressing the following subjects: future financial condition and operating results, economic, business, competitive and/or regulatory factors affecting Covidien's business. These are examples of factors, among others, that could cause actual results to differ materially from those described in the forward-looking statements. In addition, Covidien's historical and pro forma combined financial information is not necessarily representative of the results it would have achieved as an independent, publicly-traded company and may not be a reliable indicator of its future results. Covidien is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise. More detailed information about these and other factors is set forth in the information statement included in the Covidien Ltd. Form 8-K filing of June 8, 2007. CONTACT: Covidien Ltd. Eric Kraus, 508-261-8305 Senior Vice President Corporate Communications eric.kraus@covidien.com or Coleman Lannum, CFA, 508-452-4343 Vice President Investor Relations cole.lannum@covidien.com KEYWORD: MASSACHUSETTS INTERNATIONAL LATIN AMERICA ASIA PACIFIC EUROPE INDUSTRY KEYWORD: MEDICAL DEVICES PHARMACEUTICAL MEDICAL BIOTECHNOLOGY SOURCE: Covidien Ltd. Copyright Business Wire 2007 (1200)