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Covidien launches a $21 million innovation center in South Korea, a country the medical device giant calls key to its international plans.

Covidien launches $21M R&D center in South Korea

Massachusetts medical device maker Covidien (NYSE:COV) is opening the doors on a new Center of Innovation in South Korea, a country that the company calls "a key market in our global strategy."

Covidien plans to spend $21 million over the course of 3 years to support the center, which will focus on engaging local healthcare professionals in design and development of medical devices in order to tailor solutions for the market.

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