MANSFIELD, Mass.--(BUSINESS WIRE)-- Covidien (NYSE: COV) and Masimo today announced that they have amended the existing settlement agreement initially reached in January 2006. Under the terms of the amendment, Covidien will pay Masimo a royalty of 7.75% for its current pulse oximetry products sold in the United States for three years, beginning March 15, 2011.
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 three segments: Medical Devices, Pharmaceuticals and Medical Supplies. With 2010 revenue of $10.4 billion, Covidien has approximately 42,000 employees worldwide in more than 60 countries, and its products are sold in over 140 countries. Please visit www.covidien.com to learn more about our business.
CONTACT:
Covidien
Eric Kraus, 508-261-8305
Senior Vice President
Corporate Communications
[email protected]
or
Bruce Farmer, 508-452-4372
Vice President
Public Relations
[email protected]
or
Coleman Lannum, CFA, 508-452-4343
Vice President
Investor Relations
[email protected]
KEYWORDS: United States North America Massachusetts
INDUSTRY KEYWORDS: Health Biotechnology Clinical Trials Hospitals Medical Devices Pharmaceutical Other Health Research Science
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