Covidien Ltd. (NYSE: COV, BSX: COV) began trading July 2, 2007 on the New York and Bermuda Stock Exchanges, marking its debut as an independent diversified healthcare products company. The business, formerly Tyco Healthcare, spun off from Tyco International in the company's trivestiture, creating separate companies for Tyco International, Tyco Electronics, and Covidien.

The company produces medical devices, supplies, imaging products, and pharmaceuticals. Leading brands include Autosuture, Kendall, Mallinckrodt, Nellcor, Puritan Bennett, Syneture, U.S. Surgical and Valleylab.

Revenues from these business units in 2006 was $9.6 billion, with over one-third of sales outside the United States. Covidien employs more than 43,000 people in 57 countries, and its products are distributed in over 130 countries.

Medical Devices (59% of sales) is the largest business segment with net sales of $5.7 billion in 2006. The division is home to numerous innovations in Surgical Devices, Energy-Based Devices, Respiratory and Monitoring Solutions, and Patient Care and Safety Products.

Imaging Solutions (9% of sales) generated net sales of $0.9 billion in 2006. Products include Radiopharmaceuticals, Contrast Agents and Contrast Delivery Systems across multiple modalities (X-ray, MRI and nuclear medicine). The company has announced an overall shift in focus from anatomical and functional imaging to imaging at the molecular level to help clinicians diagnose, treat and monitor diseases at much earlier stages.

Pharmaceutical Products are 13% of sales with net sales for 2006 of $1.2 billion and well diversified product lines of Dosage Pharmaceuticals, Active Pharmaceutical Ingredients and Specialty Chemicals. Covidien is the ninth largest pharmaceutical company in the U.S. and a leader in the production of acetaminophen and many other pain management treatments.

Medical Supplies (10% of sales) and Retail Products (9% of sales) round out the company.

Tyco was trivested after its former CEO and CFO were convicted of fraud in an accounting scandal in 2005.

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