Patent Board ranks Covidien’s patent portfolio as strongest in the industry
By Gabe Perna
The Patent Board™, the official patent ratings partner of The Wall Street Journal, has spoken. It recently ranked 122 companies in the patent portfolio strength through its Patent Board Scorecard. The Scorecard is a tool to recognize patent portfolios are measurable financial assets that can be market-value drivers. The winner of the rankings was Covidien, a leading global provider of healthcare products.
The Mansfield, MA company moved up from the number two spot the year before to take the overall number one. This move was driven by an increase in Technology Strength™, an assessment of a company's intellectual property, quality and quantity. It was also driven by a 27 percent increase in Industry Impact™, the extent to which others build on Covidien's patents.
“Covidien’s continued dedication to the innovation process is reflected in our achieving this prestigious number one ranking. It underscores the depth of our intellectual capital and our collaborative approach to intellectual property development,” states Joe Almeida, President, Medical Devices, Covidien.
Covidien is ranked high in the Technology Strength category. This is a key indicator that is the basis of The Patent Board’s Patent Scorecard rankings. It also gained in other measures such as Science Strength. The Science Strength indicator has to do with a company’s overall reliance on scientific research in its patenting activity.
“Covidien’s performance was exceptional. The company demonstrated a substantial advance in Science Strength, increasing its score by 80% since the previous Patent Scorecard,” stated Christine Wren, Director of External Communications, The Patent Board.
For more: www.covidien.com
About Covidien
Covidien is a leading global healthcare products company that creates innovative medical solutions for better patient outcomes and delivers value through clinical leadership and excellence. Covidien manufactures, distributes and services a diverse range of industry-leading product lines in four segments: Medical Devices, Imaging Solutions, Pharmaceutical Products and Medical Supplies. With 2008 revenue of nearly $10 billion, Covidien has more than 41,000 employees worldwide in 59 countries, and its products are sold in over 140 countries. Please visit www.covidien.com to learn more about our business.