Covidien Recognized as Top Medical Devices Innovator

Tuesday, 30 June 2009 05:37

MANSFIELD, Mass.--Covidien (NYSE: COV), a leading global provider of healthcare products, was ranked the top innovator in the medical devices and services industry by The Patent Board™, the official patent ratings partner of The Wall Street Journal. The Patent Board Scorecard ranked 122 companies in the industry by patent portfolio strength. The Scorecard is a tool to recognize that patent portfolios are measurable financial assets that can be market-value drivers.

In 2009, Covidien moved up from the number two position to take the #1 spot in rankings for the first time, driven by a 50% increase in Technology Strength™, an overall assessment of a company’s intellectual property quality and quantity, and a 27% increase in Industry Impact™, the extent to which others are building on Covidien’s portfolio of U.S. patents. Covidien first appeared on the Patent Scorecard in 2007, the year that it became an independent company, and ranked #4 on the Scorecard that year.

“Covidien’s continued dedication to the innovation process is reflected in our achieving this prestigious number one ranking. It underscores the depth of our intellectual capital and our collaborative approach to intellectual property development,” said Joe Almeida, President, Medical Devices, Covidien.

Covidien led the industry in Technology Strength - a key indicator that is the basis of The Patent Board’s Patent Scorecard rankings. Covidien also showed significant gains in other ranking measures, including Industry Impact and Science Strength™. The Science Strength indicator shows a company’s overall reliance on scientific research in its patenting activity.

“Covidien’s performance was exceptional. The company demonstrated a substantial advance in Science Strength, increasing its score by 80% since the previous Patent Scorecard,” said Christine Wren, Director of External Communications, The Patent Board.

Covidien has a strong science-linked patent presence in all four of its segments -- Medical Devices, Imaging Solutions, Pharmaceutical Products and Medical Supplies -- and will continue to strengthen its technology development efforts. Covidien’s businesses work together to turn Covidien’s technology advances into patents and other valuable IP assets for the Company.

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 2008 revenue of nearly $10 billion, Covidien has more than 41,000 employees worldwide in 59 countries, and its products are sold in over 140 countries. Please visit www.covidien.com to learn more about our business.

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