Health & Fitness
Health and Fitness
Health and Fitness
Tue, August 31, 2010
Mon, August 30, 2010
Covidien Completes Sale of Sleep Therapy Product Line
DUBLIN--([ 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 GoodKnighta" and Sandmana" brands, was made following a thorough review and evaluation of a number of strategic alternatives. The decision is consistent with Covidiena™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 Covidiena™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.
