News | January 24, 2007

Tyco Healthcare to Adopt New Name

JANUARY 25, 2007 - When Tyco Healthcare Group formally separates from parent company Tyco International Ltd. this spring it will adopt a new name as its overarching national brand. It’s Covidien. Tyco Healthcare began the search for a new name, in preparation for the divestiture, last year and picked Covidien from approximately 6,000 choices. Covidien’s origin stems from collaboration and life. Tyco filed financial and legal documents with the Securities and Exchange Commission this month, outlining its plans to separate into three separate investor-owned companies. Healthcare is one of Tyco’s four major business segments, with sales of $9.6 billion in fiscal 2006 coming from a product portfolio that includes disposable medical supplies, monitoring equipment, medical instruments and bulk analgesic pharmaceuticals, sold under well-known brand names such as Auto Suture,Kendall, Mallinckrodt, Nellcor, Puritan Bennett,Syneture,United StatesSurgical and Valleylab. Those names will continue as part of Covidien.