Company Timeline

1994 Founded in 1960, Tyco reorganizes its subsidiaries to include Tyco Healthcare. Tyco acquires Classic Medical, Uni-Patch, Promeon and Kendall International. Kendall is among the world's largest manufacturers and distributors of disposable medical supplies, wound care dressings, bandaging, elastic support and other vascular therapy compression products.

1996 Tyco acquires Professional Medical Products, Inc., makers of adult incontinence products and other disposable medical products.

1997 Medical Disposable, makers of adult incontinence products is acquired.

1998 Tyco acquires Sherwood Davis & Geck, a manufacturer and distributor of disposable medical products and United States Surgical, maker of suture and auto suture medical devices.

2000 Tyco acquires General Surgical Innovations, a medical manufacturer and distributor of SPACEMAKER™ balloon dissection-devices used in minimally invasive surgical procedures and Mallinckrodt Inc., a global healthcare company that manufactures and distributes specialty medical products designed to sustain breathing, diagnose disease and relieve pain.

2002 Paragon Trade Brands, Inc. a global supplier of infant disposable diapers and other absorbent personal care products is acquired.

2005 Valleylab, a division in Tyco’s Healthcare segment, acquires Vivant Medical Inc., a leading developer of microwave ablation medical technology. Tyco Healthcare's surgical business agrees to acquire a controlling interest in Floréane Medical Implants, S.A.

2006 U.S. Surgical, a division in Tyco's Healthcare segment, acquires Confluent Surgical, Inc., a leading developer and supplier of polymer-based technology used in sprayable surgical sealants and anti-adhesion products. Tyco Healthcare agrees to acquire a controlling interest in Airox, S.A., a leading European company in home respiratory ventilation systems.

2007 Following a separation from Tyco International, Tyco Healthcare changes its name to Covidien.

Surgical Stapling Looking at the surgical stapler in 1967, eventual US Surgical founder Leon Hirsch realized that a disposable cartridge of staples would simplify the instrument's use enormously. In the basement of his house, he made a prototype cartridge stapler out of balsa wood, and then spent $75,000 of his savings to have a metal version of his model made. Two surgeons at Johns Hopkins medical school in Baltimore tested the new device, and on the basis of their strong recommendation, Hirsch was able to line up $2 million in financing from two other investors to develop and market the product.

Pulse Oximetry Beginning in 1981, Nellcor pioneered pulse oximetry as we know it today, and rapidly gained prominence as the worldwide leader in pulse oximetry products. Recent innovations, such as the OxiMax (TM) pulse oximetry system, illustrate Nellcor's technological expertise and dedication to continually improving patient care.

Mechanical Ventilation In 1940 Ray Bennett created a novel gas delivery mechanism, a jeweled pneumatic valve—the "valve that breathes with the patient." Bennett's innovation led to the development of generations of mechanical ventilators, including the MA-1 volume ventilator, a breakthrough device that virtually replaced the "iron lung" machines of the past.

Wound Care World War I created a tremendous need for surgical dressings made from the Kendall's absorbent cotton gauze. When the end of the war saw a fall-off in demand for dressings, Kendall promptly diversified. Soon the company was producing hospital dressings, cheesecloth, sanitary napkin gauze and other coarse-mesh products, and acquiring additional spinning and weaving plants to keep up with demand. Many of these products were marketed under the now legendary Curity (TM)trademark.

Many respected brands. One committed company.

At Covidien, we're passionate about making doctors, nurses, pharmacists and other medical professionals as effective as they can be. From Autosuture to Valleylab, from Kendall to Mallinckrodt, our industry-leading brands are known worldwide for uncompromising quality.

Through ongoing collaboration with medical professionals and organizations, we identify clinical needs and translate them into proven products and procedures. Over the years, we've pioneered a number of medical advances including contrast media, pulse oximetry, electrosurgery, surgical stapling and laparoscopic instrumentation.

Offering an extensive product line that spans medical devices, pharmaceuticals and medical supplies, we serve healthcare needs in hospitals, long-term care and alternate care facilities, doctors’ offices and in the home.

International in every respect

Covidien is part of the local fabric of the communities where we operate. Deriving more than 40% of our sales from outside the United States, Covidien's success wouldn’t be possible without the dedication of our 42,000 employees, who live in more than 60 countries. Nearly two-thirds of our colleagues work in 58 manufacturing facilities located in 16 countries. In addition, more than 5,000 sales representatives in more than 60 countries meet our customers’ needs every day.

Strategic Initiatives, Core strengths

At Covidien, we believe that supporting the lifesaving work of medical professionals and emphasizing growth are not mutually exclusive. In fact, our financial stability enables us to hold to our vision of being an essential resource to the healthcare profession and therefore to doing our part to improve patient outcomes.

With that in mind, we have outlined the following strategic initiatives:

• Focus on Growth
• Commitment to Innovation
• Leveraging Our Global Structure
• Driving Operational Excellence
• Increased Portfolio Management

We're confident that we will succeed in these areas because of our core strengths:

• Scale, product diversity and reach. As one of the largest global manufacturers and marketers in the healthcare industry, our scale and diversity allow us to invest wisely in infrastructure and technology and to develop lower cost sources of supply and global distribution. We offer products in a number of high growth healthcare areas, including laparoscopic surgery, electrosurgery, biosurgery, sleep therapy and pain management.
• A portfolio of leading brands. Our brands are among the most well-known and respected in the healthcare field. Quality and reliability are their hallmarks.
• Strong customer relationships. Our sales force develops and maintains strong relationships with clinician decision makers. We foster these relationships by providing extensive clinical education through dedicated training centers, by sponsoring fellowships and offering other continuing education programs.
• Operational excellence. We have a history of developing and manufacturing high-quality products in a cost-effective manner. Throughout our organization, we are committed to Six Sigma, Design for Six Sigma, Lean Manufacturing and strategic sourcing initiatives to ensure product availability. We employ strict safety and quality controls to reduce disruption throughout the supply chain.

Our aim is to enhance growth by increasing research and development initiatives, pursuing targeted acquisition opportunities and enhancing our global infrastructure, including sales, marketing and distribution.