0001193125-14-264209.txt : 201407090001193125-14-264209.hdr.sgml : 2014070920140709161802ACCESSION NUMBER:0001193125-14-264209CONFORMED SUBMISSION TYPE:425PUBLIC DOCUMENT COUNT:25FILED AS OF DATE:20140709DATE AS OF CHANGE:20140709

SUBJECT COMPANY:

COMPANY DATA:COMPANY CONFORMED NAME:Covidien plcCENTRAL INDEX KEY:0001385187STANDARD INDUSTRIAL CLASSIFICATION:SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]IRS NUMBER:980624794FISCAL YEAR END:0930

FILING VALUES:FORM TYPE:425SEC ACT:1934 ActSEC FILE NUMBER:001-33259FILM NUMBER:14967475

BUSINESS ADDRESS:STREET 1:20 ON HATCHSTREET 2:LOWER HATCH STREETCITY:DUBLINSTATE:L2ZIP:DUBLIN 2BUSINESS PHONE:353 1 438-1700

MAIL ADDRESS:STREET 1:20 ON HATCHSTREET 2:LOWER HATCH STREETCITY:DUBLINSTATE:L2ZIP:DUBLIN 2

FORMER COMPANY:FORMER CONFORMED NAME:Covidien Ltd.DATE OF NAME CHANGE:20070321

FORMER COMPANY:FORMER CONFORMED NAME:Tyco Healthcare Ltd.DATE OF NAME CHANGE:20070104

FILED BY:

COMPANY DATA:COMPANY CONFORMED NAME:MEDTRONIC INCCENTRAL INDEX KEY:0000064670STANDARD INDUSTRIAL CLASSIFICATION:ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845]IRS NUMBER:410793183STATE OF INCORPORATION:MNFISCAL YEAR END:0425

FILING VALUES:FORM TYPE:425

BUSINESS ADDRESS:STREET 1:710 MEDTRONIC PKWYSTREET 2:MS LC300CITY:MINNEAPOLISSTATE:MNZIP:55432BUSINESS PHONE:7635144000

MAIL ADDRESS:STREET 1:710 MEDTRONIC PKWYCITY:MINNEAPOLISSTATE:MNZIP:55432

4251d755553d425.htmFORM 425 - ISHRAK TOWN HALL PRESENTATION FOR COVIDIEN

Form 425 - Ishrak Town Hall Presentation for Covidien

Town HallMeeting July 9, 2014Omar IshrakChairman and CEOMedtronic, Inc. Filed by Medtronic, Inc. (SEC File No.: 001-07707) pursuant to Rule 425 under the Securities Act of 1933 and deemed filed pursuant to Rule 14a-12 under the Securities Exchange Act of 1934 Subject Company: Covidien plcSEC File No.: 001-33259 Date: July 9, 2014

Medtronic toAcquire Covidien Creates the premier global medical technology and services company with unmatched breadth and patient reach

AgendaAbout MedtronicStrategic FitIntegration GuidelinesCombined ImpactQ&ACOVIDIEN

AboutMedtronic

Fulfilling UnmetMedical Needs

The MedtronicMission: A Shared Sense of PurposeTo contribute to human welfarealleviate pain, restore health, and extend lifeTo direct our growth in the areas of maximum strength and abilityTo strive without reserve for the greatest reliability and qualityto be recognized as a company of dedication, honesty, integrity, and serviceTo make a fair profitTo recognize the personal worth of employeesTo maintain good citizenship as a company.

Improve Clinical OutcomesExpand AccessOptimize Cost and EfficiencyUniversal Healthcare Needs

EconomicValue GlobalizationStrategiesTherapy InnovationUniversal HC needsImprove clinical outcomesExpand accessOptimize costand efficiencyStrategies to Address Healthcare Needs

Three BusinessGroups Address Broad Spectrum of DiseasesThe data in this chart has been intentionally rounded to the nearest whole percentage and therefore does not sum to 100%.Cardiac RhythmDisease Management30%Coronary11%Structural Heart7%Endovascular Therapies5%Diabetes9%Surgical Technologies9%Neuromodulation11%Spine19%

StrategicFit

CombinationResults in Strategic Diversification Restorative Restorative Therapies GroupTherapies GroupSpineSpineNeuromodulationNeuromodulationSurgical Surgical TechnologiesTechnologiesCardiac and Cardiac and Vascular GroupVascular GroupCardiac Rhythm Cardiac Rhythm Structural HeartStructural HeartCoronary VascularCoronary VascularEndovascularEndovascularDiabetes Diabetes GroupGroupSurgical Surgical SolutionsSolutionsRespiratory & Respiratory & Patient CarePatient CareVascular Vascular TherapiesTherapies

TherapyInnovation: Delivering strong launch cadence of meaningful therapies and proceduresGlobalization:Addressing the inequitiesin healthcare access globallyEconomic Value:Becoming a leader in value-based healthcare by incorporating EV into our DNA&Uniquely positioned to expand our industry-leading franchises through our three differentiated strategies:A Strong Strategic FitCOVIDIEN

Three Key Benefitsfor Medtronic and Covidien Therapy InnovationTherapy Innovation1.Strengthen and enhance Peripheral Vascular and Neuroscience portfolios 2.Leverage adjacencies in Medtronic Surgical Technologies and Covidien Surgical Solutions3. Accelerate market adoption of early stage Covidien therapies

Combined CompanyImmediately Accelerates Ability to Expand Global Accesscountries150+locations300+combined EM revenue$3.7BCovidien products such as surgical tools and capital equipment are adopted earlier in hospitals, becoming a base for Medtronic chronic disease therapies Combined R&D and manufacturing breadth globally enables broader government partnershipsBroader presence facilitates more rapid expansion

A Robust andUnmatched Integrated Health Solutions PartnerDiagnostic, Surgical, and Critical Care TechnologiesValue primarily realized in hospital efficiencyChronic Disease TherapiesValue primarily realized in post-acute settingEconomic ValueCOVIDIEN

IntegrationGuidelines

Guiding Principlesfor Integration Continue to act as independent companies until transaction close

Keep focus and protect current business momentum in our respective companies

Plan for integration now to be ready for Day 1 post-close

Focus on creating lasting value beyond stated cost synergies

Frequent, open communication on key decisions

Integration TeamStructure Integration LeadsMedtronicCovidienMedtronicCovidienGeoff MarthaBill BurkeIntegration Management Office (IMO)MedtronicCovidienSteering CommitteeStrategy & Master PlanningMedtronicCovidienBUs/FranchisesMedtronicCovidienFinanceMedtronicCovidienBaseline & Value CaptureMedtronicCovidienCulture, Change Mgmt, CommsMedtronicCovidienTalent Management ProcessesMedtronicCovidienRegions MedtronicCovidienGrowth AccelerationMedtronicCovidienHuman ResourcesMedtronicCovidienITMedtronicCovidienMfg/Supply ChainMedtronicCovidienLegal/Govt AffairsMedtronicCovidienClinical/RegulatoryMedtronicCovidienQualityMedtronicCovidienCross-functional teamsCommercial teamsFunctional teamsStrategy & Business DevMedtronicCovidien

Combined Impact

TransformingHealthcare Around the World to Improve More LivesEvery3secondsTogether:$27 Billion Healthcare Leader87,000+ EmployeesLife-Changing Impact for Millions of Patients

Q&A

NO OFFER ORSOLICITATION This communication is not intended to and does not constitute anoffer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote or approval in any jurisdictionpursuant to the acquisition, the merger or otherwise, nor shall there be any sale,issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. IMPORTANT ADDITIONAL INFORMATION WILL BE FILED WITH THE SEC New Medtronic will file with the Securities and Exchange Commission (the SEC), aregistration statement on Form S-4 that will include the Joint Proxy Statement of Medtronic and Covidien that also constitutes a Prospectus of New Medtronic. Medtronic andCovidien plan to mail to their respective shareholders the Joint Proxy Statement/Prospectus (including the Scheme) in connection with the transactions. INVESTORS ANDSHAREHOLDERS ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS (INCLUDING THESCHEME) AND OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT MEDTRONIC, COVIDIEN, NEWMEDTRONIC, THE TRANSACTIONS AND RELATED MATTERS. Investors and security holders will beable to obtain free copies of the Joint Proxy Statement/Prospectus (including the Scheme) and other documents filed with the SEC by New Medtronic, Medtronic and Covidien through the website maintained by theSEC at www.sec.gov. In addition, investors and shareholders will be able to obtain freecopies of the Joint Proxy Statement/Prospectus (including the Scheme) and other documents filed by Medtronic and New Medtronic with the SEC by contacting Medtronic Investor Relations at investor.relations@medtronic.com or bycalling 763-505-2696, and will be able to obtain free copies of the Joint Proxy Statement/Prospectus (including the Scheme) and other documents filed by Covidien bycontacting Covidien Investor Relations at investor.relations@covidien.com or bycalling 508-452-4650. PARTICIPANTS IN THE SOLICITATION Medtronic, New Medtronic and Covidien and certain of their respective directors and executiveofficers and employees may be considered participants in the solicitation of proxiesfrom the respective shareholders of Medtronic and Covidien in respect of the transactions contemplated by the Joint Proxy Statement/Prospectus. Information regarding the persons who may, under the rules of the SEC,be deemed participants in the solicitation of the respective shareholders of Medtronicand Covidien in connection with the proposed transactions, including a description of their direct or indirect interests, by security holdings or otherwise, will be set forth in the Joint Proxy Statement/Prospectus when it is filed withthe SEC. Information regarding Medtronics directors and executive officers iscontained in Medtronics Annual Report on Form 10-K for the fiscal year ended April 25, 2014 and its Proxy Statement on Schedule 14A, dated July 12, 2013, which are filed with the SEC. Information regarding Covidiens directors andexecutive officers is contained in Covidiens Annual Report on Form 10-K for the fiscal year ended September 27, 2013 and its Proxy Statement on Schedule 14A, dated January24, 2014, which are filed with the SEC.

Cautionary StatementRegarding Forward-Looking Statements Statements contained in this communication that refer to New Medtronics, Medtronic'sand/or Covidiens estimated or anticipated future results, includingestimated synergies, or other non-historical facts are forward-looking statements that reflect Medtronic's and/or Covidiens current perspective of existing trends and information as of the date of this communication. Forwardlooking statements generally will be accompanied by words such asanticipate, believe, plan, could, should, estimate, expect, forecast, outlook, guidance, intend, may,might, will, possible, potential,predict, project, or other similar words, phrases or expressions. It is important to note that these goals and expectations are not predictions of actual performance. Actual results may differ materially from currentexpectations depending upon a number of factors affecting New Medtronic'sbusiness, Medtronic's business, Covidiens business and risks associated with the proposed transactions. These factors include, among others, the inherent uncertainty associated with financial projections; restructuring inconnection with, and successful close of, the Covidien acquisition; subsequentintegration of the Covidien acquisition and the ability to recognize the anticipated synergies and benefits of the Covidien acquisition; the risk that the required regulatory approvals for the proposed transactions are not obtained, aredelayed or are subject to conditions that are not anticipated; the anticipatedsize of the markets and continued demand for Medtronic's and Covidien's products; the impact of competitive products and pricing; access to available financing (including financing for the acquisition or refinancing ofMedtronic or Covidien debt) on a timely basis and on reasonable terms; the risksof fluctuations in foreign currency exchange rates; the risks and uncertainties normally incident to the medical device industry, including competition in the medical device industry; product liability claims; the difficulty ofpredicting the timing or outcome of pending or future litigation or governmentinvestigations; variability of trade buying patterns; the timing and success of product launches; the difficulty of predicting the timing or outcome of product development efforts and regulatory agency approvals or actions, if any;potential for adverse pricing movement; costs and efforts to defend or enforceintellectual property rights; difficulties or delays in manufacturing; reduction or interruption in supply; product quality problems; the availability and pricing of third party sourced products and materials; risks associated withself-insurance and commercial insurance; successful compliance withgovernmental regulations applicable to New Medtronics, Medtronic's and Covidien's facilities, products and/or businesses; changes in the laws and regulations, affecting among other things, pricing and reimbursement ofpharmaceutical products; health care policy changes; risks associated withinternational operations; changes in tax laws or interpretations that could increase New Medtronic's, Medtronics and/or Covidiens consolidated tax liabilities, including, if the transaction is consummated, changes in taxlaws that would result in New Medtronic being treated as a domestic corporationfor United States federal tax purposes; the loss of key senior management or scientific staff; and such other risks and uncertainties detailed in Medtronic's periodic public filings with the Securities and Exchange Commission,including but not limited to Medtronic's Annual Report on Form 10-K for thefiscal year ended April 25, 2014, in Covidiens periodic public filings with the Securities and Exchange Commission, including but not limited to Covidiens Annual Report on Form 10-K for the fiscal year ended September27, 2013, and from time to time in Medtronic's and Covidiens other investorcommunications. Except as expressly required by law, each of New Medtronic and Medtronic disclaims any intent or obligation to update or revise these forward-looking statements. Statement Required by the Irish Takeover Rules The directors of Medtronic accept responsibility for the information contained in thisdocument. To the best of the knowledge and belief of the directors of Medtronic(who have taken all reasonable care to ensure that such is the case), the information contained in this document is in accordance with the facts and does not omit anything likely to affect the import of such information.

Town HallMeeting Omar IshrakChairman and CEOMedtronic, Inc.

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