Print
Email
Print Edition StoriesFriday, June 5, 2009
Covidien completes HQ move to Ireland
By Mass High Tech staff
MHT's Marc Songini: Technology to keep seniors healthy
MHT's Efrain Viscarolasaga: Tech companies may have to wait for stimulus funds
MHT's Marc Songini: Researchers focus on macular degeneration
Covidien Ltd., the medical device and pharmaceuticals maker formerly headquartered in Bermuda, is now an Ireland-based company, Covidien plc (NYSE: COV). Details of the transaction note that Covidien Ltd. is now a wholly owned subsidiary of Covidien plc.
The firm received the required approval from the Supreme Court of Bermuda and completed the transition of the executive office on Thursday.
Covidien maintains its U.S. headquarters in Mansfield, where the move has not impacted operations.
The 30-year history of running operations in Ireland influenced Covidien’s decision to move there. Additionally, the country’s European Union relationship and history and strength in global investment offered appeal as well. And Covidien chairman, president and CEO Richard Meelia said in a press release that Ireland has “a good network of tax treaties with the United States, the European Union and many other countries.” Furthermore, the company already operated five factories related to medical devices and imaging solutions in Ireland, employing 2,000 workers, according to officials.
Worldwide, Covidien employs 41,000 workers in 59 countries. The company develops medical devices, imaging solutions, pharmaceutical products and medical supplies.
Comments
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.
RSS Feeds
