Cordis is a company that develops and manufactures medical devices for
diagnostics
Diagnosis is the identification of the nature and cause of a certain phenomenon. Diagnosis is used in many different disciplines, with variations in the use of logic, analytics, and experience, to determine "cause and effect". In systems engineer ...
and
interventional procedures to treat patients with
coronary Coronary () may, as shorthand in English, be used to mean:
* Coronary circulation, the system of arteries and veins in mammals
** Coronary artery disease
** Coronary occlusion
** A myocardial infarction, a heart attack
As adjective
* Referring t ...
and
peripheral vascular diseases.
Cordis was founded in 1959 in
Miami, Florida
Miami ( ), officially the City of Miami, known as "the 305", "The Magic City", and "Gateway to the Americas", is a East Coast of the United States, coastal metropolis and the County seat, county seat of Miami-Dade County, Florida, Miami-Dade C ...
, 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
Baar () is a municipality in the canton of Zug in Switzerland.
History
Baar is first mentioned in 1045 as ''Barra''.
Geography
Baar has an area, , of . Of this area, 51% is used for agricultural purposes, while 25% is forested. Of the rest o ...
, 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.
/sup>">/sup>
History
The Medical Development Corporation was founded in 1957 in
Miami, Florida
Miami ( ), officially the City of Miami, known as "the 305", "The Magic City", and "Gateway to the Americas", is a East Coast of the United States, coastal metropolis and the County seat, county seat of Miami-Dade County, Florida, Miami-Dade C ...
, by
Dr. William P. Murphy Jr. and focused on interventional
vascular
The blood vessels are the components of the circulatory system that transport blood throughout the human body. These vessels transport blood cells, nutrients, and oxygen to the tissues of the body. They also take waste and carbon dioxide away f ...
medicine and
neuroscience
Neuroscience is the scientific study of the nervous system (the brain, spinal cord, and peripheral nervous system), its functions and disorders. It is a multidisciplinary science that combines physiology, anatomy, molecular biology, development ...
.
In 1959, the company's name changed to Cordis.
In 1970, Cordis introduced the first sheath introducers with hemostasis valves, designed to minimize blood loss during an
angioplasty
Angioplasty, is also known as balloon angioplasty and percutaneous transluminal angioplasty (PTA), is a minimally invasive endovascular procedure used to widen narrowed or obstructed arteries or veins, typically to treat arterial atheroscle ...
procedure.
In 1996, Cordis joined the
Johnson & Johnson
Johnson & Johnson (J&J) is an American multinational corporation founded in 1886 that develops medical devices, pharmaceuticals, and consumer packaged goods. Its common stock is a component of the Dow Jones Industrial Average and the company i ...
Intervention Systems (JJIS)
and a year later, Cordis Corporation expanded into
electrophysiology
Electrophysiology (from Greek , ''ēlektron'', "amber" etymology of "electron"">Electron#Etymology">etymology of "electron" , ''physis'', "nature, origin"; and , '' -logia'') is the branch of physiology that studies the electrical properties of b ...
after Johnson & Johnson acquired Biosense Inc. and merged it with Cordis. In 1998, Biosense Inc. merged with Webster Laboratories to form
Biosense Webster
Johnson & Johnson (J&J) is an American multinational corporation founded in 1886 that develops medical devices, pharmaceuticals, and consumer packaged goods. Its common stock is a component of the Dow Jones Industrial Average and the company i ...
, Inc.
In 2015,
Cardinal Health
Cardinal Health, Inc. is an American multinational health care services company, and the 14th highest revenue generating company in the United States. Its headquarters are in Dublin, Ohio and Dublin, Ireland (EMEA). The company specializes in th ...
acquired the Cordis business from Johnson & Johnson for $1.944 billion.
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
Hellman & Friedman LLC (H&F) is an American private equity firm, founded in 1984 by Warren Hellman and Tully Friedman, that makes investments primarily through leveraged buyouts as well as growth capital investments. H&F has focused its efforts o ...
for $1 billion.
References
{{DEFAULTSORT:Cordis (Medical)
Johnson & Johnson subsidiaries
Medical technology companies of the United States
Companies based in Fremont, California