The purchase price is adjusted to $1.56 billion when factoring in tax benefits.
Cordis’ medical device offerings include stents and catheters for less-invasive treatments for vascular disease. In 2014, Cordis’ sales reached approximately $780 million, and 70 percent of that revenue came from overseas, according to a Cardinal news release.
The transaction is expected to close toward the end of calendar year 2015.
“We are extremely excited about the acquisition of Cordis. This is a significant step forward in our cardiovascular strategy,” said George Barrett, chairman and CEO of Cardinal Health. “Cordis brings with it a long and proud legacy of cardiovascular innovation. This move highlights our commitment to address a major pain point in healthcare systems through innovative new approaches to the management of physician preference items.”
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