Covidien Opens US$21 Million Research & Development and Training & Education Center in South Korea

SEOUL--(Korea Newswire)--Covidien, a leading global provider of healthcare products, today announced the official opening of the Covidien Center of Innovation Korea (CCI Korea), its first research and development (R&D) and training & education center in Korea, situated in the Osong Bio Cluster Complex.

With a total investment of US$21 million over a three year period, CCI Korea is a high-tech medical training center focused on raising awareness of various disease states and providing opportunities for healthcare professionals to experience how Covidien’s devices treat these diseases.

CCI Korea is Covidien’s first comprehensive training and education center in Korea, and it has a strong R&D focus allowing healthcare professionals and medical trainees to actively engage in the design and development process of medical devices. CCI Korea is also considered the first successful example of a Foreign Direct Investment (FDI) undertaking in the Osong Bio Cluster Complex.

Distinguished guests attending the grand opening ceremony included senior government officials from the National Institute of Food And Drug Safety Evaluation, Ministry of Food and Drug Safety, Chung Buk Free Economic Zone Authority, Health Insurance Review & Assessment Service as well as representatives of the Osong Medical Innovation Foundation and the U.S. Embassy. Senior leadership from Covidien were also in attendance, including Mr. Brian D. King, President, Emerging Markets; Mr. Harry de Wit, President, Asia, and Mr. Peter Kim, Managing Director, Korea.

“It is our responsibility and honor to help advance physician capabilities and uncover opportunities for locally tailored solutions to increase global access to the best patient care,” said Mr. Brian D. King, President, Emerging Markets. “Korea is a key market in our global strategy, and this investment is a reflection of our commitment to partnering with Korean healthcare professionals.”

CCI Korea spans an area of more than 6,000 square meters and includes:

- A surgical lab with 11 operating stations
- An intensive care unit (ICU) lab with two ICU stations and a human patient simulator
- An auditorium with seating capacity for 112 people, which has 3D/high-definition display technology and a state-of-the-art, optimized sound system to provide an immersive and experiential training environment

“There is an increased expectation and focus on medical technology to help improve patient outcomes,” said Mr. Peter Kim, Managing Director, Korea. “This is especially important in Korea given our population is living longer. With the opening of CCI Korea, Covidien can further advance healthcare professional capabilities in Korea and enhance collaboration activities between R&D professionals, academic institutions and healthcare professionals to create access to improved standards of care.”

Jin-ho Wang, Director General of the National Institute of Food Drug Safety Evaluation said, “This significant investment will give clinicians in Korea and the region important access to medical training and create an opportunity to further participate in the development of medical technologies for Korea. We hope Covidien’s investment will encourage other healthcare companies to further invest in Osong and support our vision to make Korea a global leader in life sciences and medicine.”

Earlier this year, Covidien signed two memorandums of understanding with the Korean Surgical Society and the Korean Society for Thoracic & Cardiovascular Surgery. All healthcare professionals affiliated with these two societies will experience CCI Korea as part of their mandatory certification programs. Covidien will continue to collaborate with Korean medical societies for training programs and new product development at CCI Korea, with a focus on promoting national health and advancing medical technology in the country.

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 products in medical devices and supplies. With 2012 revenue of $9.9 billion, Covidien has 38,000 employees worldwide in 70 countries, and its products are sold in over 140 countries. Please visit www.covidien.com or our Korean language site www.covidien.com/kr to learn more about our business.

Website: http://www.covidien.com

This is a news release distributed by Korea Newswire on behalf of this company.