Covidien Completes Sale of Retail Products Business.HAMILTON, Bermuda -- Covidien Ltd. (NYSE NYSE See: New York Stock Exchange : COV COV Composés Organiques Volatiles (French) COV Compuestos Orgánicos Volátiles (Spanish: Volatile Organic Compounds) COV Coefficient of Variation COV City of Villians (game) , BSX BSX Bermuda Stock Exchange BSX Bandai Satellaview-X BSX Bicycle Super-X (Cross) : COV) today announced that it had completed the previously announced sale of its Retail Products business to an affiliate of First Quality Enterprises, Inc. for $330 million in cash. The sale of Retail Products is part of Covidien's strategy to focus its portfolio and reallocate Verb 1. reallocate - allocate, distribute, or apportion anew; "Congressional seats are reapportioned on the basis of census data" reapportion allocate, apportion - distribute according to a plan or set apart for a special purpose; "I am allocating a loaf of resources to its core healthcare business. This portfolio strategy also includes the previously-announced definitive agreement to sell Covidien's European Incontinence business, as well as the plan to divest To deprive or take away. Divest is usually used in reference to the relinquishment of authority, power, property, or title. If, for example, an individual is disinherited, he or she is divested of the right to inherit money. its Specialty Chemicals business. 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 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. |
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