|Fate||Merged with Medtronic|
|José E. Almeida (CEO)|
Bryan Hanson (EVP and President, Covidien Group)
Number of employees
Covidien was an Irish-headquartered global health care products company and manufacturer of medical devices and supplies. Covidien became an independent publicly traded company after being spun off from Tyco International in 2007. It was purchased by Medtronic in a transaction that closed in 2015. The now-merged company is headquartered in Ireland, where Covidien was based.
In 2007, Covidien was formed when Tyco International spun off its health care business.
In 2012, Covidien acquired Newport Medical Instruments, a small ventilator manufacturer supplier. Newport Medical Instruments had been contracted in 2006 by the U.S. Department of Health and Human Services' Biomedical Advanced Research and Development Authority to design a cheap, portable ventilator. At the time, Newport Medical Instruments had 3 working prototypes produced, and was on schedule to file for market approval late 2013. Covidien then effectively halted the project, subsequently exiting the contract, as it was not profitable enough. Government officials and other medical equipment suppliers suspect the Newport acquisition was largely done to prevent a cheaper product from undermining Covidien's existing ventilator business. This contributed to the shortage of ventilators during the COVID-19 pandemic.
In October 2013, Covidien sold its Confluent Surgical product line for $235 million to Integra LifeSciences, including its DuraSeal, VascuSeal and SprayShield products.