US-based healthcare services firm Cardinal Health has completed the acquisition of Johnson & Johnson's (J&J) cardiology and endovascular devices business Cordis, for $1.9bn.
The acquisition, which was first announced by the companies in March, will expand Cardinal's portfolio of physician preference items, including cardiovascular, wound management, and orthopedics products.
The company is helping customers standardise medical devices, while providing new solutions in supply chain management, inventory optimisation, and work flow tools and data to support effective management of the patient.
Cardinal Health chairman George Barrett said: "I'm extremely pleased to welcome our new Cordis colleagues to Cardinal Health.
"With an ageing population and the accompanying demand for less invasive medical treatments, health systems around the world are searching for the best ways to ensure the highest quality care in the most cost-effective way."
The combined business will now be able to offer high-quality, daily use products, trackable inventory and logistics and deep analytic capabilities that will result in a comprehensive offering for healthcare.
Cordis, which produces cardiology and endovascular devices, reported annual sales of $780m last year.
The company carries out operations in more than 50 countries, including the US, UK, China, Japan, Germany, Italy, France and Brazil.
Cardinal Health will continue to sell Cordis products under the Cordis brand name due to its strong brand equity. In collaboration with experts worldwide, Cordis develops and manufactures interventional vascular technology to treat millions of patients who suffer from vascular disease.
When all integration work and transitions are completed over the next few years, 3,000 employees from the acquired business will join Cardinal Health.
Cardinal Health is focused on producing medical and surgical products, including gloves, surgical apparel and fluid management products.
Image: Cardinal Health portfolio now includes Cordis SMART Vascular Stent systems. Photo: courtesy of Cardinal Health / PRNewswire.