DUBLIN--(BUSINESS WIRE)--Covidien (NYSE: COV), a leading global provider of healthcare products, today announced several financial reporting changes.

The Specialty Chemicals business, previously reported in discontinued operations, has been reclassified to continuing operations within the Pharmaceuticals segment as a result of the Company’s decision to cease marketing the business for sale. The reclassification of this business to continuing operations will impact the Company’s results of operations and cash flows from continuing operations.

In addition, a number of segment reporting changes have been made to align external segment reporting with recent changes to the Company’s internal reporting structure. The significant changes include:

• the combination of the Pharmaceutical Products and the Imaging Solutions segments into a single operating segment called Pharmaceuticals;
• the reclassification of the SharpSafety and Clinical Care product lines in the United States and Europe from the Medical Devices segment to the Medical Supplies segment;
• the reclassification of product line sales within Medical Supplies; and
• the reclassification of hernia mechanical devices from the Endomechanical product line to the Soft Tissue Repair product line, both in the Medical Devices segment.

Several other minor reclassifications have also been made between product lines and segments. None of these changes impact the consolidated results of operations, financial condition or cash flows of the Company.

Historical income statements, non-GAAP reconciliations, segment sales and operating income and product line sales reflecting these changes are now available in the Investor Relations section of the Company’s web site, www.covidien.com.

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 2008 revenue of $10 billion, Covidien has more than 41,000 employees worldwide in 59 countries, and its products are sold in over 140 countries. Please visit www.covidien.com to learn more about our business.