J&J divestitutes Cordis to Cardinal Health for $2 billion

Johnson & Johnson announced on Sunday the completion of the divestiture of its Cordis business to Cardinal Health for an approximate value of $2 billion.

J&J noted the divestiture was subject to customary adjustments.

As J&J explains, the Cordis business is a global leader in the development and manufacture of interventional vascular technology and generated net revenues of approximately$780 million in 2014.

Johnson & Johnson said it remained dedicated to combating cardiovascular disease through its electrophysiology business, Biosense Webster, in the Medical Devices segment, and its leading cardiovascular medicine, Xarelto, in the Pharmaceutical segment.

J&J About Cordis

Cordis is a developer and manufacturer of interventional vascular technology, partnering with experts worldwide to treat millions of patients who suffer from vascular disease. The business has operations in more than 50 countries, with an extensive research and development network and a global commercial footprint.

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