Pembroke, Bermuda, Oct. 17 — Tyco International Ltd., a multifaceted manufacturing and service company, has acquired Mallinckrodt Inc., a St. Louis, MO-based manufacturer and distributor of specialty medical products designed to sustain breathing, diagnose disease and relieve pain.
The acquisition “offers consolidation opportunities as well as significant manufacturing, purchasing and distribution synergies,” says L. Dennis Kozlowski, Tyco's chairman and chief executive officer.
Tyco has been striving to form a presence in the healthcare industry through previous acquisitions of such industry brands as Kendall, United States Surgical, Auto Suture, Sherwood, Davis & Geck, Graphic Controls and ValleyLab.
With the addition of Mallinckrodt, Tyco Healthcare reportedly becomes the second-largest manufacturer, distributor and provider of medical devices worldwide, and a heavy hitter in analgesic pharmaceuticals, Kozlowski added. Mallinckrodt also develops radiopharmaceutical, bulk analgesics and other products such as home oxygen- and sleep therapy and portable ventilation.