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Covidien to relocate to Ireland

This article was originally published in Clinica

Executive Summary

Shareholders in global healthcare firm Covidien have agreed to change the company’s place of incorporation from Bermuda to Ireland. The firm requires approval from the Supreme Court of Bermuda to finalise the move but expects to complete the transaction by June 4. According to the St Louis Business Journal, Covidien cited tax and legislative reasons for the move. The newspaper said that the firm chose Ireland because “it has conducted business there for nearly 30 years and has six facilities and 2,000 employees there”.

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