Covidien sees strong performance in third quarter
31 July 2012 15:28 in Medical Company Financials
Covidien has published strong results during the third quarter of 2012, with sales increasing to $3.01 billion (1.92 billion pounds).
This figure was three percent higher than during the corresponding period of 2011, while medical device sales advanced by four percent during the quarter ending on June 29th 2012.
Energy and vascular products led the growth of the medical technology division, while sales in emerging markets were described as "outstanding", helping to offset the weaker conditions seen in the US and EU.
Moreover, the company was able to close a number of merger and acquisition deals that will strengthen its portfolio in several key categories.
Deals for interventional pulmonology device manufacturer superDimension, ventilation monitoring technology specialist Oridion Systems and patient monitoring and respiratory care device company Newport Medical Instruments have all been announced in recent months.
Jose Almeida, chairman, president and chief executive officer of Covidien, said: "We delivered a solid performance in the third quarter. Top-line operational growth was in line with our expectations, and we generated improved gross and operating margins."
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Story collated for Zenopa by the Adfero News Agency