Wednesday, August 19, 2009

#1 out of 122 medical device companies: Covidien recognized as “Top Innovator” with strongest patent portfolio in the industry

One of our client companies, Covidien, has been ranked the top innovator in the medical devices and services industry by The Patent Board™, the official patent ratings partner of The Wall Street Journal.

The Patent Board Scorecard ranked 122 companies in the industry by patent portfolio strength. The Scorecard is a tool to recognize that patent portfolios are measurable financial assets that can be market-value drivers.

In 2009, Covidien moved up to take the #1 spot in rankings for the first time, driven by:
  • a 50% increase in Technology Strength™ (an overall assessment of a company’s intellectual property quality and quantity); and
  • a 27% increase in Industry Impact™ (the extent to which others are building on Covidien’s portfolio of US patents)
Covidien first appeared on the Patent Scorecard in 2007, when it became an independent company, ranking #4 that year.

Joe Almeida, president of Covidien Medical Devices, said, “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.”

We at Stinson Brand Innovation agree that Covidien has a strong science-linked patent presence in all four of its segments – Medical Devices, Imaging Solutions, Pharmaceutical Products and Medical Supplies.

I believe the company will continue to strengthen its technology development efforts, because Covidien’s businesses work together to turn its technology advances into patents and other valuable IP assets.

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