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Covidien

Latest Headlines

Latest Headlines

Rating agencies likely to cut Medtronic's credit rating due to looming merger with Covidien

Moody's Investors Service and Standard & Poor's Ratings Services are expected to downgrade Medtronic's debt due to the company's impending merger with Covidien. Under the new rules imposed by the Treasury Department, Medtronic will have to borrow $16.3 billion to fund the $43 billion transaction, as opposed to the initially planned $2.8 billion.

Covidien says it's likely to divest some vascular assets due to Medtronic merger

Covidien conceded in an Oct. 24 filing with the federal Securities and Exchange Commission that it will likely divest some vascular assets so that the looming $43 billion mega merger with Medtronic can commence under antitrust law.

Q&A: CMO says Covidien wants to engage parallel review process

FierceMedicalDevices caught up with Covidien Chief Medical Officer Dr. Michael Tarnoff at the annual AdvaMed conference in Chicago at the beginning of October. Tarnoff also performs minimally invasive and bariatric surgery part-time at Tufts Medical Center in Boston.

Medtronic reveals corporate shakeup pending close of Covidien deal

Days after Medtronic revealed plans to refinance its $42.9 billion acquisition of Covidien due to new tax rules cracking down on inversions, the company announced a corporate shakeup pending the deal's close.

Med tech deal value up 363% in first half, with megadeals still pending

A recent report by Evaluate MedTech released at the annual AdvaMed med tech conference in Chicago found that M&A deal value in the med tech sector grew by 363% year over year in the first half of 2014 to $30 billion.

Med tech attorneys say FDA ramping up monitoring of device promotion

Device advice was in abundance at today's Food and Drug Law Institute panel discussion on the industry's compliance with promotion and advertising regs, featuring prominent industry lawyers from Medtronic, Covidien, Abbott and law firms.

Medtronic may revise $42.9B deal with Covidien under new tax rules

In light of new U.S. tax rules tightening the reins on corporate inversions, Medtronic could be poised to revise its $42.9 billion deal with Ireland-based Covidien.

Analysis: Treasury Department's move designed to create uncertainty

The Treasury Department's issuance of a notice cracking down on inversions was designed to create uncertainty, says Terry Haines, head of political analysis at investment research firm ISI Group. By that count, the move has succeeded. Questions abound. Will one of the affected companies sue to challenge the legal validity of the agency's action? And what's next? The 42-page notice requests comment and says that the Treasury Department and the IRS expect to issue additional guidance.

Treasury's crackdown on inversion could scupper Medtronic-Covidien deal

Treasury Secretary Jacob Lew yesterday unveiled a plethora reforms to make tax inversion more difficult and less attractive, potentially killing a plethora of pending mergers with foreign companies, including Medtronic's $43 billion tie-up with Ireland's Covidien. 

Treasury secretary: Obama administration action on inversion coming up

Treasury Secretary Jacob Lew told the Urban Institute yesterday that "in the very near future" he will decide on steps President Obama can take to curb tax inversion deals without congressional action.