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
.jpg)
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)
Syringes
Prefilled Saline Flush Syringes
Semi‑Automatic Defibrillator
Heart Save AED (ED300)
Latest Business News
- Philips and Masimo Partner to Advance Patient Monitoring Measurement Technologies
- B. Braun Acquires Digital Microsurgery Company True Digital Surgery
- CMEF 2025 to Promote Holistic and High-Quality Development of Medical and Health Industry
- 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
Channels
Critical Care
view channel
Sprayable Powder-Type Hemostatic Agent Stops Bleeding in One Second
Uncontrolled bleeding remains the leading cause of preventable death from injuries. Rapid blood loss can be fatal within minutes, especially when wounds are deep, irregular, or difficult to compress.... Read more
AI Model Helps Diagnose Often Undetected Heart Disease from Simple EKG
Coronary microvascular dysfunction is a common but elusive cause of chest pain that is frequently missed in emergency and outpatient settings. Unlike blockages in large coronary arteries, this condition... Read more
Surgical Techniques
view channel
AI Detects Stomach Cancer Risk from Upper Endoscopic Images
In many parts of the world, doctors must make complex clinical decisions with limited access to specialist support, advanced diagnostics, or pathology services. This is especially challenging in gastrointestinal... Read more
NIR Light Enables Powering and Communicating with Implantable Medical Devices
Implantable medical devices rely on wireless communication and long-lasting power sources to function safely inside the body, yet existing radio-based methods raise concerns around security, interference,... 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
EMR-Based Tool Predicts Graft Failure After Kidney Transplant
Kidney transplantation offers patients with end-stage kidney disease longer survival and better quality of life than dialysis, yet graft failure remains a major challenge. Although a successful transplant... Read more
