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Covidien's First Technology Center in Brazil, Shares Gain

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Leading global healthcare products company, Covidien plc (COV), has opened a Covidien Center of Innovation in Brazil (CCI Brazil). Located in São Paulo, near the Ponte Estaiada, CCI Brazil will brief clinicians on the latest medical technology to aid skillful execution through a wide range of procedures that can save and improve patient lives. Shares of Covidien rose 0.7% following the announcement till the last trading session.

The São Paulo center sprawls across approximately 3,000 square meters and has the infrastructure to offer 120 courses and train 2,000 healthcare professionals annually. Also, the facility offers courses that include mechanical ventilation, monitoring of vital signs, surgical procedures and minimally invasive surgeries.

Integrating a wide range of industry-leading surgical devices and medical equipment, CCI Brazil offers a fully-equipped surgical lab for minimally invasive surgeries, a laboratory for educating in medical and hospital procedures, a simulation lab for clinical scenario training with a human patient simulator, a research and development lab to help health care professionals collaborate with the R&D staff, an Anatomage touchscreen table combined with CT imaging to help deliver unparalleled anatomical images and an auditorium with seating capacity for 160 people and a multimedia system.

CCI Brazil marks Covidien’s fifth training center in an emerging market, with other centers located in China, South Korea, India and Turkey. It is a first-of-its-kind in Latin America.

Covidien is engaged in the creation of innovative medical solutions for better patient outcome. The innovation center will provide advanced surgical techniques to healthcare professionals, which will lower treatment costs and help speed up the patient recovery process.

Also, Brazil being an important market for the company’s global strategies, a growing presence in the lucrative region will favorably affect investor’s sentiment.

Currently, Covidien carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the medical products industry include ICU Medical, Inc. (ICUI), Abaxis, Inc. (ABAX) and AtriCure, Inc. (ATRC). ICU Medical sports a Zacks Rank #1 (Strong Buy) while both Abaxis and AtriCure carry a Zacks Rank #2 (Buy).

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