Company Background and Market Position Covidien is a $10 billion global healthcare products company dedicated to innovation and long-term growth. They manufacture and sell medical devices and supplies, diagnostic imaging equipment and pharmaceuticals. Tyco Healthcare separated from Tyco International In June 2007 to form Covidien. Tyco healthcare was to operate the business by acquiring venerable brands such as Kendall, Mallinckrodt and Auto suture. Since separating, they have focused on developing innovative medical solutions for better patient outcomes and on creating value through clinical leadership and excellence. As part of our pursuit of excellence, we are committed to fostering innovation. In addition to acquiring companies with superior products, they have created innovative new products through their own increasingly substantial investments in research and development (R&D). Covidien has launched 60 new products in 2008 and 2009, compared with fewer than 20 in 2005 and 2006, this were the last two years of Tyco healthcare before it become Covidien. Competition – Covidien is engaged in the development, manufacture, and sale of healthcare products, including pharmaceuticals and medical supplies, for use in clinical and home settings. One of Covidien’s main competitors in the healthcare equipment and supplies industry is Baxter International (BAX). Other competitors in the healthcare sector include: C.R. Bard (BCR), and Becton, Dickinson (BDX) Direct Competitor Comparison

| COV | BDX | BCR | JNJ | Industry | Market Cap: | 27.04B | 15.15B | 8.26B | 197.90B | 182.76M | Employees: | 41,300 | 29,369 | 12,100 | 129,000 | 328.00 | Qtrly Rev Growth (yoy): | 0.03 | 0.02 | 0.02 | 0.07 | 0.12 | Revenue (ttm): | 11.93B | 7.97B | 2.94B | 65.92B | 95.72M | Gross Margin (ttm): | 0.58 | 0.51 | 0.62 | 0.68 | 0.53 | EBITDA (ttm): |