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Cordis (medical)

American medical device manufacturer

Summary

American medical device manufacturer

Field	Value
name	Cordis
logo	Cordis logo 2022.jpg
founder	Dr. William P. Murphy Jr.
area_served	Worldwide
type	Private
products	Medical devices
foundation	1957 (as The Medical Development Corporation)
location	Miami, Florida, U.S.
num_employees	3,500
homepage	Cordis.com

Cordis is an American international medical company that develops and manufactures medical devices for diagnostics and interventional procedures to treat coronary and peripheral vascular diseases. The company operates in the North America, Europe, Middle East, Africa, Asia-Pacific, and Latin America markets.

Cordis was founded in 1957 by Dr. William P. Murphy Jr. as The Medical Development Corporation in Miami, Florida. Currently, the company is jointly headquartered in Baar, Switzerland and Santa Clara, California. The headquarters also act as a hub for Cordis' operations in Europe, Africa, and the Middle East. The North American operations are based out of the San Francisco Bay area. The Asia-Pacific hub is located in Singapore, and the Latin American hub is in Puerto Rico.

History

The Medical Development Corporation was founded in 1957 in Miami, Florida, by Dr. William P. Murphy Jr. and focused on interventional vascular medicine and neuroscience. In 1959, the company's name was changed to Cordis.

In 1970, Cordis introduced the first sheath introducers with hemostasis valves, designed to minimize blood loss during an angioplasty procedure.

In 1996, Cordis joined the Johnson & Johnson Intervention Systems (JJIS) and a year later, Cordis Corporation expanded into electrophysiology after Johnson & Johnson acquired Biosense Inc. and merged it with Cordis. In 1998, Biosense Inc. merged with Webster Laboratories to form Biosense Webster, Inc.

In 2015, Cardinal Health acquired the Cordis business from Johnson & Johnson for $1.944 billion. On March 31, 2017, Cardinal Health announced two new strategic agreements that enabled Cordis, Cardinal Health's interventional vascular business, to expand its cardiology product offering in China.

In March 2021, Cardinal announced plans to sell Cordis to private equity firm Hellman & Friedman for $1 billion. The transaction was completed in August.

References

"About Us".
(September 2023). "Introducing Cordis, a Cardinal Health company".
(25 October 2015). "Gateway City/Who's Here: Cordis plant in Miami Lakes produces high-tech cardiac catheter components for world market".
(23 January 1996). "COMPANY NEWS;JOHNSON & JOHNSON WILL COMPLETE PURCHASE OF CORDIS". The New York Times.
STIEGHORST, TOM. (24 February 1996). "CORDIS APPROVES J&J MERGER".
(1997-09-29). "Johnson & Johnson Buys Biosense For $400 Mln in Shares - Globes".
(2 March 2015). "J&J confirms $1.9B sale of Cordis unit to Cardinal Health, ending months of speculation".
(15 March 2021). "Cardinal Health to sell off its Cordis device division in $1B deal".
"Cardinal Health completes sale of Cordis business to Hellman & Friedman". PR Newswire.

Wikipedia Source

This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page.

medical-technology-companies-of-the-united-states companies-based-in-fremont,-california 2021-mergers-and-acquisitions

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