
By Ted Nesi
PBN Web Editor
MANSFIELD – Covidien Plc is quite the globetrotter.
The medical products company, which has its executive offices in Mansfield’s Cabot Business Park, moved its incorporation from Bermuda to Ireland last June as the Obama administration prepared to crack down on corporate tax havens such as Bermuda.
But it turns out Covidien has yet another top office even further away than that.
Covidien Plc’s operating subsidiaries, which include Mallinckrodt Inc., are all owned by Covidien International Finance S.A., a separate company headquartered in the tiny Western Europe nation of Luxembourg, on the fourth floor of a building on Boulevard Prince Henri, according to filings with the Securities & Exchange Commission. (Covidien Plc still sits atop all of the company’s divisions.)
Covidien International Finance was established in December 2006 shortly before Covidien’s spinoff from former parent company Tyco International Ltd.
The Luxembourg company issues debt on Covidien’s behalf. “Otherwise, it conducts no independent business,” the company said in a filing in 2008.
Additional information is available at covidien.com.