Cardinal to Acquire Cordis Vascular Technology for USD 1.94 Billion
|
By HospiMedica International staff writers Posted on 15 Mar 2015 |
|
US pharmaceutical and medical equipment maker Johnson & Johnson (J&J; New Brunswick, NJ, USA) has agreed to sell its Cordis vascular technology unit to Cardinal Health (Dublin, OH, USA) for USD 1.94 billion.
The acquisition follows a sequence of strategic moves for Cardinal Health in the areas of cardiology, wound management, and orthopedics, and is designed to elevate Cardinal Health to the status of a global manufacturer of cardiology and endovascular devices, as well as providing an opportunity to build a generic medical devices business that could be a powerful competitor to cardiovascular device companies such as Abbott Laboratories, Boston Scientific (Natick, MA, USA), and Medtronic.
The purchase of Cordis (Fremont, CA, USA) marks the continued departure of J&J from the cardiovascular stent business, a move that enables the company to focus on other areas that offer greater opportunities for growth. J&J said, however, that it would continue to stay in the cardiovascular disease sector through its electrophysiology business, Biosense Webster, and its leading cardiovascular treatment Xarelto.
“With an aging population and the accompanying demand for less invasive medical treatments, health systems around the world are searching for the best way to bring quality care to their patients in the most cost-effective way,” said George Barrett, chairman and CEO of Cardinal Health. “The acquisition of Cordis reinforces our strategic position to address this need and strengthens an important growth driver in the Cardinal Health portfolio.”
“This initiative is part of our ongoing disciplined portfolio management approach to focus on our most promising opportunities to help patients and drive growth,” said Gary Pruden, worldwide chairman of the global surgery group at J&J. “Cordis has made significant contributions to the field of cardiovascular care, and we believe the business has a promising future with Cardinal Health, a company with which we have a long-standing relationship.”
Related Links:
Johnson & Johnson
Cardinal Health
Cordis
The acquisition follows a sequence of strategic moves for Cardinal Health in the areas of cardiology, wound management, and orthopedics, and is designed to elevate Cardinal Health to the status of a global manufacturer of cardiology and endovascular devices, as well as providing an opportunity to build a generic medical devices business that could be a powerful competitor to cardiovascular device companies such as Abbott Laboratories, Boston Scientific (Natick, MA, USA), and Medtronic.
The purchase of Cordis (Fremont, CA, USA) marks the continued departure of J&J from the cardiovascular stent business, a move that enables the company to focus on other areas that offer greater opportunities for growth. J&J said, however, that it would continue to stay in the cardiovascular disease sector through its electrophysiology business, Biosense Webster, and its leading cardiovascular treatment Xarelto.
“With an aging population and the accompanying demand for less invasive medical treatments, health systems around the world are searching for the best way to bring quality care to their patients in the most cost-effective way,” said George Barrett, chairman and CEO of Cardinal Health. “The acquisition of Cordis reinforces our strategic position to address this need and strengthens an important growth driver in the Cardinal Health portfolio.”
“This initiative is part of our ongoing disciplined portfolio management approach to focus on our most promising opportunities to help patients and drive growth,” said Gary Pruden, worldwide chairman of the global surgery group at J&J. “Cordis has made significant contributions to the field of cardiovascular care, and we believe the business has a promising future with Cardinal Health, a company with which we have a long-standing relationship.”
Related Links:
Johnson & Johnson
Cardinal Health
Cordis
Gold Member
SARS‑CoV‑2/Flu A/Flu B/RSV Sample-To-Answer Test
SARS‑CoV‑2/Flu A/Flu B/RSV Cartridge (CE-IVD)
Gold Member
STI Test
Vivalytic Sexually Transmitted Infection (STI) Array
New
VTE Prevention System
Flowtron ACS900
New
Shoulder System
Identity Shoulder System
Latest Business News
- Bayer and Broad Institute Extend Research Collaboration to Develop New Cardiovascular Therapies
- Medtronic Partners with Corsano to Expand Acute Care & Monitoring Portfolio in Europe
- Expanded Collaboration to Transform OR Technology Through AI and Automation
- Becton Dickinson to Spin Out Biosciences and Diagnostic Solutions Business
- Boston Scientific Acquires Medical Device Company SoniVie
- 2026 World Hospital Congress to be Held in Seoul
- Teleflex to Acquire BIOTRONIK’s Vascular Intervention Business
- Philips and Mass General Brigham Collaborate on Improving Patient Care with Live AI-Powered Insights
- Arab Health 2025 Celebrates Landmark 50th Edition
- Boston Scientific Acquires Medical Device Company Intera Oncology
- MEDICA 2024 to Highlight Hot Topics of MedTech Industry
- Start-Ups To Once Again Play Starring Role at MEDICA 2024
- Boston Scientific to Acquire AFib Ablation Company Cortex
- Hologic Acquires Gynesonics to Strengthen Existing Gynecological Surgical Business
- Smith+Nephew and JointVue Partner on Ultrasound Preoperative Planning in Robotics-Assisted Surgery
- Stryker Completes Acquisition of NICO Corporation
Channels
Critical Care
view channel
Discovery of Heart’s Hidden Geometry to Revolutionize ECG Interpretation
Electrocardiograms (ECGs) are one of the most widely used tools in diagnosing heart conditions, but their accuracy can be affected by natural variations in individual heart anatomy. Traditional ECG interpretation... Read more
New Approach Improves Diagnostic Accuracy for Esophageal Motility Disorders
Esophageal motility disorders are conditions in which the muscles of the esophagus fail to function properly, often resulting in difficulty swallowing. Diagnosing these disorders can be challenging, as... Read more
Wristband Sensor Provides All-In-One Monitoring for Diabetes and Cardiovascular Care
Diabetes management is a complex and evolving challenge, particularly when it comes to accurately tracking and understanding how various factors affect blood sugar levels and overall health.... Read more
Handheld Device Enables Imaging and Treatment of Oral Cancer in Low-Resource Settings
Oral cancer is a growing public health concern, particularly in South Asia, where it affects tens of thousands of people each year. In India, oral cancer accounts for 40% of all cancers, largely driven... Read moreSurgical Techniques
view channel
Fluorescent Imaging Agent ‘Lights Up’ Nerves for Better Visualization During Surgery
Surgical nerve injury is a significant concern in head and neck surgeries, where nerves are at risk of being inadvertently damaged during procedures. Such injuries can lead to complications that may impact... Read more
LED-Based Imaging System Could Transform Cancer Detection in Endoscopy
Gastrointestinal cancers remain one of the most common and challenging forms of cancer to diagnose accurately. Despite the widespread use of endoscopy for screening and diagnosis, the procedure still misses... Read more
Patient Care
view channel
Revolutionary Automatic IV-Line Flushing Device to Enhance Infusion Care
More than 80% of in-hospital patients receive intravenous (IV) therapy. Every dose of IV medicine delivered in a small volume (<250 mL) infusion bag should be followed by subsequent flushing to ensure... Read more
VR Training Tool Combats Contamination of Portable Medical Equipment
Healthcare-associated infections (HAIs) impact one in every 31 patients, cause nearly 100,000 deaths each year, and cost USD 28.4 billion in direct medical expenses. Notably, up to 75% of these infections... Read more
Portable Biosensor Platform to Reduce Hospital-Acquired Infections
Approximately 4 million patients in the European Union acquire healthcare-associated infections (HAIs) or nosocomial infections each year, with around 37,000 deaths directly resulting from these infections,... Read more
First-Of-Its-Kind Portable Germicidal Light Technology Disinfects High-Touch Clinical Surfaces in Seconds
Reducing healthcare-acquired infections (HAIs) remains a pressing issue within global healthcare systems. In the United States alone, 1.7 million patients contract HAIs annually, leading to approximately... Read moreHealth IT
view channel
Printable Molecule-Selective Nanoparticles Enable Mass Production of Wearable Biosensors
The future of medicine is likely to focus on the personalization of healthcare—understanding exactly what an individual requires and delivering the appropriate combination of nutrients, metabolites, and... Read more
