Dear Medtronic and Covidien Colleagues,
Over the course of the last week we hope that you have had a chance to more fully understand the rationale for combining our two companies and the exciting opportunities that now are ahead of us. Both companies have an unyielding commitment to the patients and customers we serve, and recognize that we are privileged to help improve lives and healthcare outcomes around the world. We share a strong work ethic and value innovation, accountability, collaboration and, above all else, having compassion for those we serve. These shared values will be central to making this transaction successful and working together in the future.
We are off to a strong start and are eager to build on that momentum. There is much work to be done before closing the transaction and integrating our two companies. With that in mind, our integration planning will begin very soon and we will be announcing the individuals who will be leading the integration planning from both companies next week. Once an integration planning process is in place, we will keep you updated on their activities.
Until the closing of the transaction, which is subject to certain conditions, Medtronic and Covidien will continue to operate as independent companies. For important legal and regulatory reasons, we cannot jointly approach customers, share non-public information or work together in the marketplace until the transaction closes. Until then, any exchange of commercial information between the two companies will only be conducted by a member of the integration planning team. It is important that we remain focused on delivering on our commitments for this year and putting each of our respective companies in the strongest position possible.
The talent and commitment that exists among the teams at Medtronic and Covidien is powerful and has always been a source of pride for our leaders. There is much to look forward to in our future and, together, building on our ability to deliver new value to our customers, patients, shareholders and each other.
Sincerely,