Latest Device Giant: Covidien

The new company will be called Covidien and will be based in Mansfield, MA, giving the state a second device-industry titan to accompany Boston Scientific. The 43,000-employee company with more than 10,000 products will focus exclusively on the medical market and hopefully avoid the financial shenanigans that brought down its soon-to-be-former parent company. If Tyco shareholders and the SEC approve, the spinoff would happen in April.