Covidien Ltd Announces Definitive Agreement to Sell European Incontinence Business

HAMILTON, Bermuda--(BUSINESS WIRE)--Covidien Ltd. (NYSE: COV, BSX: COV) today announced that it has reached a definitive agreement to sell its European Incontinence business to a private French company who will rename the business Lille Healthcare. Terms of the agreement were not disclosed. Covidien’s European Incontinence business, which is headquartered in Lille, France, was formerly part of Covidien's Medical Supplies segment and had sales of $109 million in fiscal 2007. The transaction, which is subject to customary closing conditions, is expected to be completed in the second calendar quarter of 2008.