Covidien casts off EU incontinence business
This article was originally published in Clinica
Covidien is set to divest its European incontinence business to an unnamed private French company. The deal, which is expected to close in the second quarter of 2008, will see the anonymous buyer rename the business Lille Healthcare - the incontinence arm is currently headquartered in Lille, France. The business was part of Covidien's medical supplies segment but is now considered non-core to Covidien's healthcare plan, a spokesperson for the company told Clinica. In fiscal 2007, sales from the European incontinence products made $109m, around 11% of the overall sales made by the medical supplies business, which generated $993m in revenue during fiscal 2007. Financial terms of the deal were not disclosed.
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