Covidien plc (COV) Forebear Tyco International Ltd. (TYC) Pays $26 Million to Settle Overseas Bribery Beef  
9/25/2012 8:45:07 AM

Tyco International, forebear of medical device industry titan Covidien, settles a federal bribery probe for $26 million after investigators find that Tyco Healthcare used illegal payments to influence doctors and public health professionals in Saudi Arabia, China and Poland. Security giant Tyco International (NYSE:TYC), father of medical device company Covidien (NYSE:COV), agreed to pay a $26 million settlement to close the books on an international bribery scandal that involved health officials in Saudi Arabia, China and Poland.