On the evening of March 2, Beijing time, Johnson & Johnson, a US medical and medical device manufacturer, agreed to sell its vascular medical device manufacturing department, Codys, for US$1.9 billion on Monday, and was completed by the US Cardinal Health Group. Strategy for the cardiovascular stent business.
Cardinal is one of the largest pharmaceutical distribution companies in the United States, and the company is expanding its medical device supply business. Cardinal said the company will be able to sell Codys products through its sales network. The company expects the acquisition to boost its 2017 earnings by approximately 20 cents per share.
Evercore ISI analyst Ross Muken said in a research report: "Although this transaction is not without obvious risks, it does mark a change in the overall business portfolio and business model of Cardinal Health Group. We believe its finances. The attraction is far more than this."
Johnson & Johnson said that the company currently retains the electrophysiological business of the vascular disease business unit and the new anticoagulant drug, Xarelto.
About four years ago, Johnson & Johnson began to withdraw from the cardiovascular stent business, and the company first chose to withdraw from the highly competitive drug-coated stent market.
70% of Codys' revenue comes from outside the United States, and its main markets include Europe, China and Japan.
Codys' business also includes other medical devices for heart disease, such as the more attractive endovascular health market, which includes medical devices for the treatment of aneurysms and open arteries.
Cardinal Health Group said that due to inventory valuation issues, the acquisition will slightly dilute the company's total revenue in 2016.
The transaction is expected to end on December 31 this year.
Other cardiovascular medical device manufacturers include Medtronic, Abbott, St. Jude Medical Products, and Boston Scientific.
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