As per information received, around a half-dozen prominent publicly traded firms in the medical equipment industry are presently assessing the chance of presenting their individual bids for the acquisition of Cordis.
Hellman & Friedman took ownership of Cordis in 2021 from Cardinal Health for approximately $1 billion , a period of six years after its previous proprietor Johnson & Johnson divested the enterprise.
Cordis is known for its specialization in the creation of heart-related medical instruments , notably catheters, stents, alongside supplementary items intended for the proper functioning of the heart and its vessels , which find widespread application in interventional cardiology practices.
Sources within the investment sphere suggest that Hellman & Friedman is aiming for a noteworthy increase relative to the asset’s assessed value , considering the expansion of the medical technology (medtech) arena and the consistent need for heart-related products. The possible transaction could stand out as one of the most considerable agreements within the medical device field in more recent times.
KKR , identified as one of Cordis’ backers, is also participating in these talks, yet both groups have opted to abstain from providing any comments, and Cordis, as an entity, has not yet provided a response to inquiries concerning the prospective arrangement.
The sector of medical devices continues to be among the most vibrant in global healthcare, particularly concerning cardiology, where the requirement for state-of-the-art technologies for minimally invasive methods is showing sustained growth. Substantial transactions within this area include acquisitions valued in the billions and alliances between global manufacturing entities, indicative of a strategy centered on broadening product lines and tapping into new markets.