![FDA, FTC and DOJ Enforcement of Medical Device Regulations FDA, FTC and DOJ Enforcement of Medical Device Regulations](https://www.fdanews.com/ext/resources/Book-Covers-2/BFFDEMDR-COVER.png?height=200&t=1685733565&width=200)
Home » J&J Sells Cardiovascular Unit to Cardinal for $1.9 Billion
J&J Sells Cardiovascular Unit to Cardinal for $1.9 Billion
![](https://www.fdanews.com/ext/resources/test/Device_Images/handshake-2.gif?t=1433861630&width=430)
Cardinal Health will pay just shy of $2 billion for Johnson & Johnson's Cordis interventional vascular technology business.
The deal, announced Monday, sees Cardinal paying $1.94 billion in cash and $46 million in retained net receivables for Cordis. The Fremont, Calif., devicemaker had net revenues of $780 million last year, according to J&J.
The purchase — which follows a string of strategic moves in cardiology, wound management and orthopedics — will allow Cardinal to offer its clients a suite of innovative cardiovascular devices, said Cardinal CEO George Barrett. We are well-positioned to help customers standardize around mature medical devices,” he added.
The deal is scheduled to close near the end of the year, subject to trade union and regulatory approvals. — Elizabeth Orr
Upcoming Events
-
21Oct