Tyco Healthcare: Surviving Scandal

The (literally) trials and tribulations of its parent, Tyco International, have been both irrelevant to its strongly performing medical device business, Tyco Healthcare, and maddeningly distracting at the same time. But it has shaped the company's strategy, most notably in moving the company away from acquisitions as an engine of growth, forcing Tyco Healthcare to focus more on R&D and new product development.

By David Cassak

In a discreet corner of Tyco Healthcare Group president Richard Meelia's large but unpretentious office is a small porcelain dog, holding a ring in its mouth. Actually, it's a gag gift, a cheap knock-off meant to remind people of the $6,000 dog umbrella stand that Dennis Kozlowski, Tyco International Ltd

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