Covidien Completes Sale of Oxygen Therapy Product Line

2009-11-30 13:08:59 -

Covidien (NYSE: COV), a leading global provider of healthcare products, today announced that it had completed the previously announced sale of its Oxygen Therapy assets to Chart Industries, Inc. (NASDAQ: GTLS).

Financial terms of the transaction were not disclosed.

The sale of the Oxygen Therapy product line, which includes products sold under the Companion™ and Helios™ brands, was made following a

thorough review and evaluation of a number of strategic alternatives.

The decision is consistent with Covidien’s strategy to streamline its portfolio and reallocate resources to its faster-growing, higher-margin businesses, where the Company has or can develop a global competitive advantage.


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 product lines in three segments: Medical Devices, Pharmaceuticals and Medical Supplies. With 2009 revenue in excess of $10 billion, Covidien has 42,000 employees worldwide in more than 60 countries, and its products are sold in over 140 countries. Please visit www.covidien.com : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. to learn more about our business.


CovidienEric Kraus, 508-261-8305Senior Vice PresidentCorporate
Communications eric.kraus@covidien.com : mailto:eric.kraus@covidien.com orBruce

Farmer, 508-452-4372Vice PresidentPublic Relations bruce.farmer@covidien.com : mailto:bruce.farmer@covidien.com orColeman
Lannum, CFA, 508-452-4343Vice PresidentInvestor Relations cole.lannum@covidien.com : mailto:cole.lannum@covidien.com orBrian
NamethDirectorInvestor Relations508-452-4363 brian.nameth@covidien.com : mailto:brian.nameth@covidien.com