Hamilton, Bermuda
Covidien Ltd. (NYSE: COV, BSX: COV) announced that one of its subsidiaries has acquired 100% ownership of Tissue Science Laboratories, a medical device company dedicated to the research, development and commercialization of tissue implant products for surgical and wound care therapies. Covidien launched a public tender offer in the United Kingdom for all of Tissue Science Laboratories outstanding shares held by UK residents on March 12, 2008.
Covidien has also completed the sale of its European Incontinence business to a private French company who will rename the business Lille Healthcare. Terms of the agreement were not disclosed. The business, which is headquartered in Lille, France, was formerly part of Covidien's Medical Supplies segment and had sales of $109 million in fiscal 2007.
ABOUT COVIDIEN LTD.
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 four segments: Medical Devices, Imaging Solutions, Pharmaceutical Products and Medical Supplies. With 2007 revenue of nearly $9 billion, Covidien has more than 42,000 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.
Source: Business Wire (Business Wire India)