On August 2, 2021 Cardinal Health (NYSE: CAH) and Hellman & Friedman (H&F) reported the completion of the previously announced sale of Cardinal Health’s Cordis business to H&F (Press release, Cardinal Health, AUG 2, 2021, View Source;Friedman/default.aspx [SID1234585529]). 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.
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Cardinal Health, Inc. is a global, integrated healthcare services and products company, providing customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories and physician offices worldwide.
"We appreciate H&F’s partnership throughout the transaction, and we are excited about Cordis’s future under H&F’s ownership," said Mike Kaufmann, CEO of Cardinal Health. "As we shared previously, this divestiture demonstrates our disciplined portfolio evaluation approach, and we remain committed to investing in our strategic growth areas."
"We are thrilled to begin this next chapter for Cordis and value the partnership with Cardinal Health through the transition," said Shar Matin, CEO of Cordis. "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."
Cardinal Health plans to release its fourth-quarter and year-end financial results for its fiscal year 2021 on August 5 prior to the opening of trading on the New York Stock Exchange. The company will webcast a discussion of these results beginning at 8:30 a.m. Eastern.