Covidien Parent Company May Pay $220 Million in Settlement

The parent company of Mansfield-based Covidien could pay $220 million to settle a federal dispute case.

Medtronic, the company that purchased Covidien in 2015, is one of three corporate parties that would contribute to the $475-$525 million settlement, according to the Sun Chronicle.

If approved, all of the tax disputes prior to 2007 from the former Covidien would be resolved.

The settlement still needs approval from the IRS.