COV

Devices & Diagnostics

Covidien withdraws abdominal stapler that had less than $50M in sales in 9 months

Medical device maker Covidien  (NYSE:COV)  announced Wednesday that an abdominal stapler product was being recalled and discontinued after it received a single report of injury. Covidien said that the Duet TRS Universal Straight and Articulating Single-Use Loading Units, a stapler, had injured a patient after abdominal surgery. The product is typically used in “bariatric surgery […]

Devices & Diagnostics

Covidien recalls certain electrode kits and grounding pads, the second recall in two months

After hearing of injury reports from patients that included burns, Covidien, (NYSE:COV) is recalling certain electrode kits and grounding pads. The Mansfield, Massachusetts medical device maker said that it is withdrawing the DGPHP RFA High-Power Single Use Grounding Pads and Cool-tip RFA Electrode Kits that Contain DGPHP RFA High-Power Single Use Grounding Pads. The affected lots […]

Devices & Diagnostics

Covidien executive echoes Medtronic CEO Omar Ishrak in describing fundamental shifts in healthcare

In talking about the medical device industry’s role in the rapidly shifting healthcare industry, the president of Covidien’s Global Vascular Therapies business sounded a lot like Medtronic CEO Omar Ishrak. “We have gotten away by not demonstrating the economic value of products,” said Stacy Enxing Seng, at a Women’s Leadership event Thursday organized in the […]

Pharma

Covidien executive McBean named president of Cornerstone Therapeutics

Former Covidien (NYSE:COV) executive Kenneth McBean has joined Cornerstone Therapeutics (NASDAQ:CRTX) to become president of the respiratory therapeutics company. The hire comes as Cornerstone puts more emphasis on its branded products and transitions away from sales of unbranded drugs. As Covidien’s vice president and general manager of Specialty Pharmaceuticals from March 2009 through last May, […]

Devices & Diagnostics

Covidien announces $2 billion stock repurchase program

Covidien Plc.’s (NYSE:COV) board of directors approved a $2 billion stock repurchase program today. “The board’s approval of this share repurchase program reflects its confidence in the continued growth of Covidien’s business, our sustainable free cash flow and our commitment to enhance shareholder value,” president & CEO José Almeida said in a press release. The […]

Devices & Diagnostics

New Covidien CEO named from medical device division

Covidien plc (NYSE:COV) announced a succession in its corner office, tapping the leader of its medical device unit to become its new president and CEO in July, replacing the retiring Richard Meelia. The Mansfield, Mass.-based medical products conglomerate said Jose Almeida will become president and CEO of the company after Meelia steps down July 1. Almeida, a 16-year Covidien and Tyco Healthcare veteran, has been president of the company's medical device division, its largest, since 2006. He'll also become a member of Covidien's board in July.