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Covidien plc (COV) Opens $21 Million R&D Training Center in Korea


8/27/2013 6:57:38 AM

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Covidien Opens US$21 Million Research & Development and Training & Education Center in South Korea

SEOUL, South Korea--(BUSINESS WIRE)--Covidien (NYSE: COV), a leading global provider of healthcare products, today announced the opening of the Covidien Center of Innovation Korea (CCI Korea), its first research & development (R&D) and training & education center in Korea.

With a total investment of US$21 million over a three year period, CCI Korea is a high-tech medical training center focused on raising awareness of various disease states and providing opportunities for advancing healthcare professionals’ capabilities by creating access to a full-range of Covidien’s medical devices.

“It is our responsibility and honor to help advance physician capabilities and uncover opportunities for locally tailored solutions to increase access to the best patient care,” said Mr. Brian D. King, President, Emerging Markets, Covidien. “Korea is a key market in our global strategy, and this investment is a reflection of our commitment to partnering with Korean healthcare professionals.”

CCI Korea is Covidien’s first comprehensive training and education center in Korea with R&D capacity, allowing healthcare professionals and medical trainees to actively engage in the design and development of medical devices.

CCI Korea spans an area of more than 6,000 square meters and includes:

A surgical lab with 11 operating stations

An intensive care unit (ICU) lab with two ICU stations and a human patient simulator

An auditorium with seating capacity for 112 people, which has 3D/high-definition display technology and a state-of-the-art, optimized sound system to provide an immersive and experiential training environment

“There is an increased expectation and focus on medical technology to help improve patient outcomes,” said Mr. Peter Kim, Managing Director, Korea, Covidien. “With the opening of CCI Korea, Covidien can further advance healthcare professional capabilities and enhance collaboration activities between R&D professionals, academic institutions and healthcare professionals to create access to improved standards of care.”

Earlier this year, Covidien signed two memorandums of understanding with the Korean Surgical Society and the Korean Society for Thoracic & Cardiovascular Surgery. All healthcare professionals affiliated with these two societies will experience CCI Korea as part of their mandatory certification programs. Covidien will continue to collaborate with Korean medical societies for training programs and new product development at CCI Korea, with a focus on promoting national health and advancing medical technology in the country.

About Covidien

Covidien is a leading global healthcare products company that creates innovative medical solutions for better patient outcomes and delivers value through clinical leadership and excellence. Covidien manufactures, distributes and services a diverse range of industry-leading products in medical devices and supplies. With 2012 revenue of $9.9 billion, Covidien has 38,000 employees worldwide in 70 countries, and its products are sold in over 140 countries. Please visit www.covidien.com or our Korean language site www.covidien.com/kr to learn more about our business.

Contacts

Covidien

Michael Drury, (+) 65 9788 0013

Senior Director

Communications & Public Relations, Asia

michael.drury@covidien.com

or

Coleman Lannum, CFA, 508-452-4343

Vice President

Investor Relations

cole.lannum@covidien.com

or

Lisa Clemence, 508-452-4375

Director

Corporate Communications

lisa.clemence@covidien.com

or

Todd Carpenter, 508-452-4363

Senior Director

Investor Relations

todd.carpenter@covidien.com

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