Cordis (medical)

Cordis is a company that develops and manufactures medical devices for diagnostics and interventional procedures to treat patients with coronary and peripheral vascular diseases.

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 was founded in 1959 in Miami, Florida, and currently operates in North America, Europe, the Middle East, Africa, Asia-Pacific, and Latin America markets. The Cordis global headquarters are jointly located in Baar, Switzerland, and Santa Clara, California. The headquarters also acts 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.[1] In 1959, the company's name changed to Cordis.[1]

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)[1][2][3] and a year later, Cordis Corporation expanded into electrophysiology after Johnson & Johnson acquired Biosense Inc. and merged it with Cordis.[4] 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.[5][6]

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.[6]

References
  1. "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.
  2. "COMPANY NEWS;JOHNSON & JOHNSON WILL COMPLETE PURCHASE OF CORDIS". The New York Times. 23 January 1996. ISSN 0362-4331. Retrieved 2021-08-26.
  3. STIEGHORST, TOM. "CORDIS APPROVES J&J MERGER". Sun-Sentinel.com. Archived from the original on 2021-07-02. Retrieved 2021-08-26.
  4. "Johnson & Johnson Buys Biosense For $400 Mln in Shares - Globes". en.globes.co.il (in Hebrew). 1997-09-29. Retrieved 2021-08-26.
  5. "J&J confirms $1.9B sale of Cordis unit to Cardinal Health, ending months of speculation". FierceBiotech. 2 March 2015. Retrieved 2021-08-26.
  6. "Cardinal Health to sell off its Cordis device division in $1B deal". FierceBiotech. 15 March 2021. Retrieved 2021-08-26.
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