Covidien is launching a new restructuring plan that will put more emphasis on contract manufacturing and move more manufacturing close to end markets. Growth in the so-called BRIC (Brazil, Russia, India, and China) nations is a particular goal. The medical device and supplies manufacturer is a captive plastics processor and a major buyer of medical plastics.
Innovation centers will be opened by the company next year in Brazil, Turkey and India as part of its new, and still emerging, strategy. While its sales in less-developed countries are currently quite low, profit margins are higher than in major markets. In 2012, 55% of Covidien's sales were in the United States, 16% were in the Euro zone, 11% were in Japan and the remainder were in other countries.
Covidien's corporates headquarters are in Dublin, Ireland. U.S. headquarters are in Mansfield, MA.