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Cordis (medical)

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Cordis
Founded1957 (as The Medical Development Corporation)
FounderDr. William P. Murphy Jr.
HeadquartersSanta Clara, California, U.S.
Area served
Worldwide
ProductsMedical devices
WebsiteCordis.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.[1]

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.[2] In 1959, the company's name was changed to Cordis.[2]

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

In 1996, Cordis joined the Johnson & Johnson Intervention Systems (JJIS)[2][3][4] and a year later, Cordis Corporation expanded into electrophysiology after Johnson & Johnson acquired Biosense Inc. and merged it with Cordis.[5] In 1998, Biosense Inc. merged with Webster Laboratories to form Biosense Webster, Inc.[citation needed]

In 2015, Cardinal Health acquired the Cordis business from Johnson & Johnson for $1.944 billion.[6][7]

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.[7]

References

  1. ^ "Introducing Cordis, a Cardinal Health company". www.cardinalhealth.com. Retrieved 2015-11-13. [verification needed]
  2. ^ a b c "Gateway City/Who's Here: Cordis plant in Miami Lakes produces high-tech cardiac catheter components for world market". Miami Herald. 25 October 2015. Archived from the original on 2015-10-26.
  3. ^ "COMPANY NEWS;JOHNSON & JOHNSON WILL COMPLETE PURCHASE OF CORDIS". The New York Times. 23 January 1996. ISSN 0362-4331. Retrieved 2021-08-26.
  4. ^ STIEGHORST, TOM. "CORDIS APPROVES J&J MERGER". Sun-Sentinel.com. Archived from the original on 2021-07-02. Retrieved 2021-08-26.
  5. ^ "Johnson & Johnson Buys Biosense For $400 Mln in Shares - Globes". en.globes.co.il (in Hebrew). 1997-09-29. Retrieved 2021-08-26.
  6. ^ "J&J confirms $1.9B sale of Cordis unit to Cardinal Health, ending months of speculation". FierceBiotech. 2 March 2015. Retrieved 2021-08-26.
  7. ^ a b "Cardinal Health to sell off its Cordis device division in $1B deal". FierceBiotech. 15 March 2021. Retrieved 2021-08-26.
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