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Cardinal Health acquires J&J’s Cordis business for $1.94bn

Healthcare services company Cardinal Health has completed the acquisition of Johnson & Johnson's (J&J) Cordis business, for $1.944bn.

Cardinal

The deal was first announced by both firms in March this year.

The acquired business will expand Cardinal Health’s portfolio of physician preference items, including cardiovascular, wound management, and orthopedics products.

Cardinal Health chairman and CEO George Barrett said: "I’m extremely pleased to welcome our new Cordis colleagues to Cardinal Health.

"With an aging population and the accompanying demand for less invasive medical treatments, health systems around the world are searching for the best ways to ensure the highest quality care in the most cost-effective way."

Based in Fremont of California, Cordis produces cardiology and endovascular devices and reported annual sales of around $780m in 2014.

The company carries out operations in around 50 countries, including the US, the UK, China, Japan, Germany, Italy, France and Brazil.

Cardinal Health will continue to sell Cordis products under the Cordis brand name due to its strong brand equity.

When all integration work and transitions are completed over the next few years, around 3,000 employees from the acquired business will join Cardinal Health.

Based in Dublin of Ohio, Cardinal Health produces medical and surgical products, including gloves, surgical apparel and fluid management products.


Image: Cordis S.M.A.R.T Vascular Stent Systems are now part of the Cardinal Health portfolio. Photo: courtesy of Cardinal Health/PRNewswire.