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 product lines in three segments: medical devices, pharmaceuticals and medical supplies. with 2010 revenue in excess of $10.4 billion, covidien has 42,000 employees worldwide in more than 60 countries, and its products are sold in over 140 countries.
covidien has identified emerging markets worldwide – with a particular emphasis on asia and a focus on china and india – as offering significant potential for organizational growth and business success. included within the many facets of the company\'s growth strategy is development of a global medical devices emerging markets r&d group whose vision is:
as covidien works toward its goal of becoming the leading global healthcare products company, we will support this goal by developing innovative products that balance cost and features, tailoring these products to the different geographic markets we serve and increasing speed to market in making these products available to our customers.
covidien\'s commitment to growing its global r&d function is significant. the organization\'s r&d funding in 2007 stood at $260 million. that increased to $447 million – up 72 percent – in 2010 and the total will reach more than half a billion dollars by 2013.
in its effort to reach the desired outcomes, emerging markets r&d is:
——growing r&d funding to an appropriate level
——continuing to be gbu-focused in most areas
——pooling resources where efficiencies can be gained, like governance and support
——finding opportunities to combine technologies across gbus to develop breakthrough processes
the em r&d strategy includes four of covidien\'s global business units – surgical devices, vascular therapies, energy-based devices and respiratory & monitoring solutions. those businesses account for more than 65 percent of covidien\'s revenues.
to find out more about covidien, please visit its website at www.covidien.com
