Cardinal Health will acquire Johnson & Johnson's Cordis for $1.94 billion, the Dublin-based company announced this morning.

March 2, 2015

Cardinal Health will acquire Johnson & Johnson's Cordis for $1.94 billion, the Dublin-based company announced this morning.

California-based Cordis manufacturers cardiology and endovascular devices used worldwide in surgical procedures, including stents, catheters and guide wires.

The acquisition is expected to be completed by the end of the year.

The purchase is in line with Cardinal's recent efforts and acquisitions to expand its services globally across a wider range of medical services and products.

"This acquisition follows a sequence of strategic moves for Cardinal Health in the areas of cardiology, wound management and orthopedics," said CEO George Barrett, in a statement.

Cordis is a global company with annual sales of approximately $780 million.

The United States is its largest market, but 70 percent of its sales are international in more than 50 countries, including China, Japan, Germany, Italy, France, the United Kingdom and Brazil.

swartenburg@dispatch.com
@stevewartenberg