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http://www.boston.com/sports/baseball/redsox/articles/2007/04/06/tyco_spinoff_plans_fenway_debut/

Tyco spinoff plans Fenway debut
Covidien agrees to a multiyear sponsorship deal
By Keith Reed, Globe Staff | April 6, 2007

The $10 billion medical devices giant about to be spun off from Tyco International Ltd. plans to introduce itself to the world next week in Fenway Park.

Covidien Ltd. has signed a multiyear deal estimated to be worth seven figures to become a Red Sox sponsor, a pact that will give Covidien's new logo prime real estate in the middle of the left-field wall at the ballpark.

The company also will donate an undisclosed amount of money to charities supported by the Red Sox Foundation . The deal comes as Covidien, currently Tyco's healthcare unit, prepares to be spun out as an independent company with roughly 43,000 employees before the end of the second quarter.

When that move is done, Covidien, based in Mansfield, will join the ranks of Massachusetts' other giant life-science companies, including Genzyme Corp. and Boston Scientific Corp. But first, it has to create its own corporate image separate from Tyco, which in this decade was synonymous with a wave of corporate scandals that rocked Wall Street.

"I think that the management team at corporate headquarters has done a terrific job to bring credibility back to a company that needed it. This is more to announce Covidien as a stand-alone entity, to create buzz and excitement around that," said Eric Kraus , Covidien's spokesman.

Neither the Red Sox nor Covidien would disclose the length or value of the deal, but sports marketing specialists said a deal that includes a prominent sign at Fenway Park, one of the best-known facilities in baseball, plus a charitable component would be worth millions.

The new Green Monster sign will be ready for Tuesday's home opener, Kraus said.

The company is donating to The Jimmy Fund, the Red Sox Scholars , Community Athletic Programs, and Dimock Community Health Center in Roxbury.

Covidien also will be the main sponsor for the foundation's $500 per plate Welcome Home dinner, to be held Tuesday at the Boston Convention & Exhibition Center , as well as the Pan-Mass Challenge , a two-day bike ride from Sturbridge to Provincetown to support research at the Dana-Farber Cancer Institute.

Keith Reed can be reached at [e-mail].

© Copyright 2007 Globe Newspaper Company.