Covidien to sell ex-Tyco business for $335M

Covidien Ltd., said today it is selling its retail products business in King of Prussia to First Quality Enterprises Inc. for about $335 million.

The health-care products company, which was spun off from Tyco International Ltd. in June, said the sale was consistent with its plans to focus on its main health-care business, which includes surgical instruments, ventilators and syringes.

Covidien's retail products business, which includes products for infant care, adult incontinence and feminine hygiene, had sales of $744 million in fiscal 2007.

Covidien shares rose 36 cents, or 0.82 percent, to $44.26 on the New York Stock Exchange.