Covidien reports third-quarter growth for 2013

Covidien has published strong financial results for the third quarter of its 2013 business year, which ran from April to June 2013.

The company's net sales total for the period came to $2.58 billion (1.68 billion pounds), up by three percent year on year, with its growth in emerging markets highlighted as being particularly encouraging.

Within its core medical devices segment, the firm saw strong demand for its endomechanical and energy products, while its airway and ventilation offerings and oximetry and monitoring devices also generated significantly increased revenues.

The quarter also saw Covidien complete the spin-off of its pharmaceuticals division into an independent business unit called Mallinckrodt, as part of efforts to streamline its business focus.

Jose Almeida, chairman, president and chief executive officer of Covidien, said: "With the pharmaceuticals spin-off now behind us, we are focused on strengthening our medical devices and supplies businesses through organic growth, new products and geographic expansion."