Hoffmann Estates, IL -- PETNET Solutions, a wholly-owned subsidiary of Siemens Medical Solutions USA, Inc. and a leader in radiopharmaceutical distribution, and Covidien, a leading global provider of healthcare products, have entered into a co-marketing agreement to offer a combined portfolio of high-energy and low-energy radioisotopes to the nuclear medicine community in the United States.

Through the agreement, PETNET and Covidien Imaging Solutions will create a network of nuclear imaging product offerings to expand customer access to a wider range of products, including molecular imaging agents, or radiopharmaceuticals, designed to illuminate conditions, such as cancer or heart disease, during imaging procedures. The agreement brings together Covidien's single photo emission computed tomography (SPECT) products and PETNET's positron emission tomography (PET) products.

"This agreement further validates the efforts Covidien has undertaken in recent years to enhance our reputation as a valued supplier of essential diagnostic products," said Steve Hanley, president, Imaging Solutions, Covidien. "With the agreement we are positioned to offer our nuclear medicine customers expanded access to both product lines to help them provide better patient diagnostic services. It also provides PETNET with access to our extensive SPECT product offerings."

Additionally, this agreement allows both companies to offer customers enhanced service, expertise and product sourcing options.

"We are pleased to work in tandem with Covidien to offer radiopharmaceuticals for both PET and SPECT imaging. This agreement strengthens Siemens offerings in radiopharmaceutical distribution and contributes to the availability of molecular imaging to patients nationwide, " said Michael Reitermann, CEO, Molecular Imaging, Siemens Healthcare.

The Siemens Healthcare Sector is one of the world's largest suppliers to the healthcare industry. The company is a renowned medical solutions provider with core competence and innovative strength in diagnostic and therapeutic technologies as well as in knowledge engineering, including information technology and system integration. With its laboratory diagnostics acquisitions, Siemens Healthcare is the first integrated healthcare company, bringing together imaging and lab diagnostics, therapy, and healthcare information technology solutions, supplemented by consulting and support services. Siemens Healthcare delivers solutions across the entire continuum of care from prevention and early detection, to diagnosis, therapy and care.

PETNET Solutions, a fully owned subsidiary of Siemens Medical Solutions, operates the largest PET radiopharmacy network with over 50 radiopharmacies and distribution centers worldwide to produce and distribute PET radiopharmaceuticals to hospitals, clinics, and research facilities for PET imaging. PETNET Solutions is currently growing its network of radiopharmacies to promote global PET utilization. As molecular imaging evolves, PETNET Solutions delivers products and services that expand the value of PET to providers, referring physicians and patients. PETNET Solutions is delivering, expanding, and advancing the science of PET through high quality PET tracers.

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.