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Home Industry News Covidien to incorporate in Ireland

Covidien to incorporate in Ireland

2nd June 2009

Covidien is set to change its place of incorporation from Bermuda to Ireland.

Shareholders approved the transaction at a meeting last week that will effectively lead to this move.

The company has to wait to be granted permission from the supreme court of Bermuda and ensure it satisfies other conditions.

It expects the deal to be completed on June 4th and once it has been concluded, Covidien will trade on the New York Stock Exchange.

Those who want to buy or sell the firm’s shares should look out for the same symbol as it operates under now ? COV.

Last month, Covidien reached a final agreement to acquire VNUS Medical Technologies.

President of the former’s medical devices department Joe Almeida noted the merger would allow the company to strengthen its presence in the market and is in line with its goal of being a leading partner with radiologists and surgeons.

He asserted: “The VNUS product line will be an important addition to our innovative portfolio of vascular intervention products.”

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