Cardinal Health Binding Offer to Acquire Cordis Accepted
Cordis Is A Worldwide Leader In Cardiac And Endovascular Medical Products
DUBLIN, Ohio, – Cardinal Health today announced that its March 1, 2015 binding offer to acquire Johnson Johnson's Cordis business for $1.944 billion in cash was formally accepted. The offer was accepted after consultations with relevant works councils and trade unions. The transaction is expected to close in the United States and key non-U.S. countries towards the end of 2015, subject to regulatory clearances and other customary closing conditions.
Headquartered in Fremont, Calif., Cordis had annual sales in calendar year 2014 of approximately $780 million, split almost evenly between cardiology and endovascular products. Cordis is a global company with a growing portfolio of products and talented people serving healthcare systems throughout the world. While the U.S. is the largest single market, 70 percent of total sales come from outside the U.S. Cordis' international presence includes operations in more than 50 countries, including China, Japan, Germany, Italy, France, the United Kingdom, and Brazil.
Cardinal Health noted in its March announcement that the acquisition of Cordis was a significant step forward in its cardiovascular strategy. The Cordis acquisition follows a sequence of strategic moves for Cardinal Health in the areas of cardiology, wound management and orthopedics. The company is helping customers standardize around mature medical devices, while bringing them innovative solutions in supply chain management, inventory optimization, and work flow tools and data to support the most effective management of the patient.
For more information on the Cordis acquisition, visit the Investors page at ir.cardinalhealth.com and click on Events Presentations.
About Cardinal Health
Headquartered in Dublin, Ohio, Cardinal Health, Inc. (NYSE: CAH) is a $91 billion health care services company that improves the cost-effectiveness of health care. Cardinal Health helps pharmacies, hospitals, ambulatory surgery centers, clinical laboratories and physician offices focus on patient care while reducing costs, enhancing efficiency and improving quality. Cardinal Health is an essential link in the health care supply chain, providing pharmaceuticals and medical products and services to more than 100,000 locations each day and is also the industry-leading direct-to-home medical supplies distributor. The company is a leading manufacturer of medical and surgical products, including gloves, surgical apparel and fluid management products. In addition, the company operates the nation's largest network of radiopharmacies that dispense products to aid in the early diagnosis and treatment of disease. Ranked #22 on the Fortune 500, Cardinal Health employs 34,000 people worldwide. More information about the company may be found at www.cardinalhealth.com.
SOURCE Cardinal Health
CONTACT: Media: Debbie Mitchell, (614) 757-6225, debbie.mitchell@cardinalhealth.com or Investors: Erika Wadlinger, (614) 757-5035, Erika.Wadlinger@cardinalhealth.com
Web Site: http://www.cardinalhealth.com
