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Covidien, a $10.4 billion manufacturer of medical devices and supplies, inherited multiple U.S. pension plans with about $455 million in assets when it was spun off from Tyco International in 2007. Covidien wanted to limit the volatility in the plans’ funded status and its impact on the company’s financials and cash contributions.
The 110-year-long relationship is coming under increasing scrutiny from investors.
Below-zero yields on corporate debt suggest "Japanification" redux.
The average annual healthcare spending for individuals with employer-sponsored plans reached an all-time high of $5,641 in 2017.
Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.
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