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August 2, 2021
Cardinal Health Completes Sale of Cordis to Hellman & Friedman
August 2, 2021—Cardinal Health and Hellman & Friedman (H&F) announced the completion of the previously announced sale of Cardinal Health’s Cordis business to H&F, a global private equity firm with a distinctive investment approach focused on large-scale equity investments in high-quality growth businesses.
The sale price of approximately $1 billion includes the buyer’s assumption of certain liabilities and the seller’s retention of certain working capital accounts. The definitive agreement for the acquisition was announced in March 2021.
“We are thrilled to begin this next chapter for Cordis and value the partnership with Cardinal Health through the transition,” commented Shar Matin, Chief Executive Officer of Cordis, in the announcement. “We believe that an independent Cordis company, combined with an innovative approach to bring differentiated products to market, will allow us to create incremental value for teammates, customers, and investors.”
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