Johnson & Johnson has announced the completion of the divestiture of its Cordis business to Cardinal Health for an approximate value of $2 billion, subject to customary adjustments.
J&J About Cordis:
“Cordis is a leader in the development and manufacture 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. Cordis generated net revenues of approximately $780 million in 2014”.
Johnson & Johnson also said that it remains 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.