Covidien Ventures, the venture capital arm of Covidien plc, invests in innovative medical devices, diagnostics, and pharmaceuticals. They have a preference for startups in the pharmaceutical and healthcare industries. The fund typically invests in rounds with 5-6 participants and deals ranging from $10-50 million. They have a higher rate of exits compared to other organizations and are more active in lead investments. Covidien Ventures has invested in companies like SetPoint Medical, ValenTx, and Entellus Medical. They partner with management teams and other investors to bring new technologies to physicians and patients.