Johnson & Johnson Announces Completion of Cordis Divestiture to Cardinal Health
Johnson & Johnson has announced the completion of the divestiture of its Cordis business to Cardinal Health for an approximate value of $2 billion.
PRESS RELEASE
New Brunswick, NJ (October 4, 2015) -- Johnson & Johnson (NYSE: JNJ) today announced the completion of the divestiture of its Cordis business to Cardinal Health for an approximate value of $2 billion, subject to customary adjustments.
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 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.
