Covidien Completes Sale of Sleep Diagnostics Product Line
DUBLIN-(Business Wire)-September 21, 2009 - Covidien (NYSE: COV), a leading global provider of healthcare products, today announced that it had completed the previously announced sale of its Sleep Diagnostics assets to Embla Systems. Financial terms of the transaction were not disclosed.
The sale of the Sleep Diagnostics product line, which includes several products sold under the Sandman™ brand, 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.
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 2008 revenue of $10 billion, Covidien has more than 41,000 employees worldwide in 59 countries, and its products are sold in over 140 countries. Please visit www.covidien.com to learn more about our business.
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