DUBLIN, May 23, 2011 (BUSINESS WIRE) --
Covidien (NYSE: COV), a leading global provider of healthcare products,
today announced the launch of Conscientious Collaboration,an
online resource to promote the importance of ethical and clinically
meaningful collaboration between healthcare professionals (HCPs) and the
medical device and pharmaceutical industries.
Covidien is committed to open communication with its customers and
partners to enhance innovation and help ensure improved patient
outcomes. Consequently, the online resource is designed to help educate
HCPs about Covidien's policies and practices for working with them, as
well as the laws and codes of conduct that govern these relationships.
"Given the advancement of technology in healthcare today, the
provider/industry relationship has never been more relevant or
important, nor more scrutinized or challenged," said Dr. Michael
Tarnoff, Covidien's Global Chief Medical Officer. "Conscientious
Collaboration is Covidien's platform through which we can discuss
our proactive approach to ensuring ethical interactions with our HCP
partners. Our goal is to enhance innovation and patient safety by
preserving the ability of healthcare professionals to partner with our
Company in an appropriate manner."
Legislation, such as the Physician Payment Sunshine Act, and similar
state laws, has focused interest on the relationships between HCPs and
corporations. Covidien believes that ethical collaboration between HCPs
and healthcare products companies remains more important than ever, as a
means to develop clinically relevant, innovative products, procedures
and training that continue to improve patient outcomes and patient
Covidien has taken a number of proactive steps to ensure its
interactions with HCPs are compliant with relevant laws and regulations.
In 2010, Covidien became the first large medical device company to stop
direct sponsorship of HCP travel to third-party conferences and
congresses worldwide. Additionally, Covidien has:
Delegated decision-making authority for educational and research grant
requests to a cross-functional team led by the Company's Medical
Affairs department in order to avoid conflicts of interest
Created Investigator-Sponsored Research Grant Committees to evaluate
research grant proposals, separate from the commercial operations of
Moved funding for minimally-invasive surgical (MIS) fellowships to
neutral organizations, such as the Foundation for Surgical Fellowships.
"Covidien puts a great value on the work of healthcare professionals and
the clinical outcomes of our products," said Joe Almeida, President,
Medical Devices, Covidien, who spoke on the topic at last week's 2011
International Medical Device Industry Compliance Conference in London.
"Therefore, it is imperative that we work together to preserve the
tremendous real-world value of ethical relationships with healthcare
To view the Conscientious Collaboration online resource, please visit: www.covidien.com/collaboration.
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 2010 revenue of $10.4 billion, Covidien has 41,000
employees worldwide in more than 65 countries, and its products are sold
in over 140 countries. Please visit www.covidien.com
to learn more about our business.
Lisa Clemence, 508-452-4375
Coleman Lannum, CFA, 508-452-4343
Bruce Farmer, 508-452-4372
Todd Carpenter, 508-452-4363