Leading health care products company,
) recently won the U.S. Food and Drug Administration (FDA) 510(k)
approval as well as the European Economic Area (EEA) CE Mark
clearance for its Nellcor Bedside Respiratory Patient Monitoring
system. The device is used for quick detection and monitoring of
severe respiratory complications.
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The addition of the Nellcor Bedside Respiratory Patient Monitoring
system from Covidien's oximetry and monitoring products portfolio
under the Medical Devices business division is poised to attract
healthy revenue opportunities for the company. The system meets the
required standards and will be available in the U.S. and EEA in the
coming few months.
The Nellcor Bedside Respiratory Patient Monitoring system
continuously monitors blood oxygenation as well as pulse rate and
allows physicians easy access to patients' respiratory history,
thereby enabling faster treatment and improved standards of care.
The system has a multicolor screen that allows effortless
observations. It can also be connected to the Nellcor OxiNet III
Remote Respiratory Monitoring system, allowing physicians to
monitor multiple patients from a central station.
Earlier in June, the company launched the Nellcor SpO2 single
parameter module in North America, European Economic Area (EEA) and
other select overseas markets. In July, Covidien received the FDA
approval for the Nellcor Bedside SpO2 Patient Monitoring System. It
is now available for sale in the U.S. This underlines Covidien's
commitment to new products and technology roll out, focusing on
With market capitalization of $28.52 billion, Covidien is a leading
developer, manufacturer and distributor of medical devices and
services on a global scale. Its business segments overlap with the
business of its competitors such as
Becton, Dickinson and Company
CR Bard Inc.
) among others.
We currently have a Neutral recommendation on Covidien, which
carries a short-term Zacks #3 Rank (Hold rating).