Covidien

Covidien emerged from the ashes of the Tyco International implosion in 2003, spun out of Tyco’s healthcare business. Since then it’s been on a strict diet, shedding non-core or slower-growing businesses and bulking up in areas where it sees opportunity. That’s meant a host of acquisitions aimed at boosting Covidien’s footprint in medical devices, its largest segment (the company also deals in medical supplies and pharmaceuticals). Its commitment to med-tech was also in evidence when it announced plans to spin out its pharmaceuticals unit.