2 | Financial data as of May 2010

• A global medical device and pharmaceutical manufacturing company with nearly $11 billion in annual revenue
• Well positioned with a diverse portfolio of products and technologies in attractive franchises
• A company with a committed to quality and innovation; dedicated to clinical solutions
• Highly efficient and productive, producing strong margins and cash flow
• A leading player across our portfolio
3 | Financial data as of May 2010

Our Mission
Create and deliver innovative healthcare solutions , developed in ethical collaboration with medical professionals, which enhance the quality of life for patients and improve outcomes for our customers and our shareholders .
Our Goal
Become the leading global healthcare products company by creating innovative medical solutions for better patient outcomes and delivering value through clinical leadership and excellence in everything we do .
4 | Financial data as of May 2010

Accountability
Collaboration
We each take responsibility for delivering outstanding results to our partners, patients and teammates, while affirming our commitment to integrity and the highest standards of ethical conduct.
We are integral partners working with our colleagues and customers to generate innovative ideas that solve challenging healthcare problems.
Compassion
We are caring professionals committed to improving the health and well-being of patients around the world.
Diversity
5 | Financial data as of May 2010
We strive to fully understand our marketplace, our customers, our communities and our employees, and to enter into relationships with a sense of honesty, fairness and trust.

Maintain a customer mindset in everything we do.
We consistently act with our customer in mind and strive to understand their needs.
We collaborate with both internal and external customers to create innovative solutions for better outcomes.
Customer
Focus
Globalize to accelerate growth
We seek to understand local requirements and needs to develop product portfolios that are relevant to the markets we serve. We leverage the full potential of our diverse workforce to employ a global mindset and infrastructure to maximize the Company’s potential throughout the world.
Globalization
Innovation
Innovate for better outcomes
We are committed to developing approaches and solutions throughout the organization that address unmet needs. We will challenge ourselves to think, listen and act differently to drive creativity in everything we do.
High-
Performance
Organization
Focus on communication and execution aligned to the
Company’s mission
We provide employees the information and tools to accelerate the execution of our objectives. We promote consistent accountability and encourage people to take risks.
6 | Financial data as of May 2010

Managing portfolio for growth, margin and ROIC expansion
Continuing to build new product flow with clinically relevant offerings
Focusing on BD&L activity that complements current franchises
Recruiting and retaining top talent throughout the organization
Assuring commitment to service, quality and compliance
Maintaining strong balance sheet and ample cash flow to support growth, investments and shareholder interests
7 | Financial data as of May 2010

Doubled annual patent filings since 2004
Creating more intellectual property and more aggressively protecting our technology
Launched an Innovation Council and Innovation
Awards program
Increased R&D investments from $262MM in 2006 to
$438MM in 2009
Sales from new products increased 3X since 2006
8 | Financial data as of May 2010

Rich Meelia
President, CEO
Joe Almeida
President,
Medical Devices
Tim Wright
President,
Pharmaceuticals
& Imaging
Jim Clemmer
President,
Medical Supplies
Amy Wendell
SVP,
Business Development
John Masterson
SVP,
General Counsel
Mike Dunford
SVP,
Human Resources
Eric Kraus
SVP,
Corp. Communications
Chuck Dockendorff
EVP,
Chief Financial
Officer
Jim Muse
SVP,
Global Supply Chain
Our management team averages over 25 years of healthcare and/or functional experience
9 | Financial data as of May 2010

Medical Devices
• Surgical Devices
• Energy-based Devices
• Respiratory and Monitoring Solutions
• Vascular Therapies
Pharmaceutical & Imaging
Products
• Specialty Pharmaceuticals
• Active Pharmaceutical Ingredients
• Radiopharmaceuticals
• Contrast Products
Medical Supplies
• Nursing Care
• Monitoring & OR Products
• SharpSafety
• Original Equipment Manufacture
10 | Financial data as of May 2010

Pharmaceuticals
• Dosage Pharmaceuticals
• Active Pharmaceutical Ingredients
• Radiopharmaceuticals
• Contrast Agents
27%
16%
Medical Supplies
• Nursing Care
• SharpSafety
• Monitoring & OR Products
• Original Equipment Manufacture
Medical Devices
• Surgical Devices
• Energy-based Devices
• Respiratory and Monitoring Solutions
• Vascular Therapies
11 | Financial data as of May 2010
57%

Pharmaceutical Products
$2.9B
• Dosage Pharmaceuticals
• Active Pharmaceutical Ingredients
• Radiopharmaceuticals
• Contrast Agents
27%
16%
Medical Supplies
$1.7B
• Nursing Care
• SharpSafety
• Monitoring & OR Products
• Original Equipment
Manufacturer
Medical Devices
$6.1B
• Surgical Devices
• Energy-based Devices
• Respiratory and Monitoring Solutions
• Vascular Therapies
12 | Financial data as of May 2010
57%

Other
Americas
$0.6B
Asia-Pacific
$1.4B
Europe
$2.6B
13 | Financial data as of May 2010
United States
$6.2B

Year
1994
1998
1998
2000
Major Acquisitions Specialty
Wound Care, Urology, Vascular
Compression, Incontinent Care
Needles & Syringes, Sutures,
Dialysis, Enteral Feeding
Wound Closure, Laparoscopic
Instruments, Electrosurgery
Respiratory, Imaging and
Pharmaceutical
Acquired numerous smaller companies from 1996 – present
14 | Financial data as of May 2010

15 | Financial data as of May 2010

Unprecedented recent foreign exchange volatility
U.S. recession and global economic slowdown
Restricted credit availability
Raw material prices
16 | Financial data as of May 2010

Broad product line across multiple healthcare categories
Less than 5% of revenues are considered capital equipment
Modest exposure to elective surgical procedures
Global footprint and growing non-US business
Strong balance sheet, ample cash on hand, good cash flow generation
17 | Financial data as of May 2010

• 2009 sales growth 2% (8% operational)
• Strong growth in endomechanical, soft tissue repair, vascular and energy
• VNUS, Bacchus and Aspect acquisitions integrated and contributing to growth
• ev3 acquisition expected to provide access to new markets
• Focus on bariatric, hernia and biosurgery growth initiatives; vascular expansion; emerging market opportunities
• Recent 2010 launches: new SILS™ instruments, next generation EGIA
Universal, hemorrhoid stapler
* Operational growth, net sales growth excluding the impact of foreign currency exchange, is a non-GAAP measure.
18 | Financial data as of May 2010

• Acquired proven, patented drug technology to build pipeline
• Developing capabilities in formulation, regulatory, clinical development and Risk Evaluation & Mitigation Strategies
(REMS)
• Expanding commercial sales force and medical affairs to market licensed products in branded pain
• Maria announcement will help ease moly shortage, but supply chain remains fragile and unpredictable
• New product releases:
19 | Financial data as of May 2010

• 2009 sales growth (2%) (flat operational)
• Broad portfolio with many products #1 or #2 in their markets
• Continue to sell value beyond price in many commoditized markets
• Pruning portfolio of lower margin, slow growth offerings
• Managing business with minimal investment for cash and ROIC
20 | Financial data as of May 2010