M&A Deal Summary

Hellman & Friedman Acquires Cordis

On March 12, 2021, private equity firm Hellman & Friedman acquired medical products company Cordis from Cardinal Health for 1.0B USD

Acquisition Highlights
  • This is Hellman & Friedman’s 1st transaction in the Medical Products sector.
  • This is Hellman & Friedman’s 31st largest (disclosed) transaction.
  • This is Hellman & Friedman’s 52nd transaction in the United States.
  • This is Hellman & Friedman’s 4th transaction in Florida.

M&A Deal Summary
Date 2021-03-12
Target Cordis
Sector Medical Products
Buyer(s) Hellman & Friedman
Sellers(s) Cardinal Health
Deal Type Divestiture
Deal Value 1.0B USD

Target

Cordis

Miami Lakes, Florida, United States
website
Cordis is a provider of cardiovascular and endovascular medical devices. Founded in 1966, the Company has a long history of innovation in high-quality and minimally-invasive cardiovascular technology. Its products are primarily used in procedures to diagnose and treat the narrowing or blockage of arteries. The Company is a U.S. company with a primary corporate office in Miami Lakes, Florida, manufacturing facilities in the U.S. and Mexico and sales in over 50 countries around the world.

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Buyer(S) 1

Buyer

Hellman & Friedman

San Francisco, California, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1984
PE ASSETS 50.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Hellman & Friedman (H&F) is a large private equity firm on the West Coast of the US. H&F focuses on control and minority investments in a variety of transaction structures and will consider opportunities across the US and Europe. H&F seeks buyouts and business in need of restructurings that operate in defensible markets with predictable revenue and earnings growth. Target sectors include financial services, healthcare, indusrial, energy, insurance, media, marketing, professional services, software, and information services. H&F's target equity investment size is $300 million to $1 billion. Hellman & Friedman was formed in 1984 and has offices in San Francisco, New York City, and London.

DEAL STATS #
Overall 77 of 87
Sector (Medical Products) 1 of 2
Type (Divestiture) 6 of 6
State (Florida) 4 of 4
Country (United States) 52 of 60
Year (2021) 1 of 9
Size (of disclosed) 31 of 39
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-12 FFG Finanzcheck Finanzportale

Hamburg, Germany

Based in Hamburg, Finanzcheck is an independent and technology-driven financing platform that brings consumers into contact with providers of financial products. Consumers benefit from considerable savings in interest costs and greater opportunities for financing, while product providers benefit from significantly lower customer acquisition costs. Finanzcheck's end-to-end platform includes world-class technology and customer service to cover the entire lifecycle from customer acquisition to loan approval and beyond.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-13 Enverus

Austin, Texas, United States

Enverus is a data, software, and insights company focused on the energy industry. Through its SaaS platform, Enverus provides innovative technologies and predictive/prescriptive analytics, empowering customers to navigate the future. Enverus’ solutions deliver value across upstream, midstream and downstream sectors, enabling the industry to be more collaborative, efficient and competitive. Enverus was founded in 1999 and is based in Austin, Texas.

Buy -

Seller(S) 1

SELLER

Cardinal Health

Dublin, Ohio, United States

website

Category Company
Founded 1979
Sector Distribution
Employees44,000
Revenue 181.4B USD (2022)
DESCRIPTION
Entrance to Cardinal Health's corporate headquarters in Dublin, Ohio.
Entrance to Cardinal Health's corporate headquarters in Dublin, Ohio.

Cardinal Health is a global distributor of healthcare products. Cardinal Health manufactures medical and surgical products and distributes pharmaceuticals and medical supplies worldwide. Cardinal Health was incorporated in 1979 and is based in Dublin, Ohio.

DEAL STATS #
Overall 9 of 10
Sector (Medical Products) 3 of 3
Type (Divestiture) 7 of 7
State (Florida) 1 of 1
Country (United States) 7 of 8
Year (2021) 1 of 1
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-13 NaviHealth

Brentwood, Tennessee, United States

NaviHealth, Inc. is the largest manager of post-acute benefits for health plans and a leading value-based care partner to health systems and providers. naviHealth currently serves more than two million insured members and manages care transitions for approximately 800 acute hospitals and 11,000 post-acute care facilities nationwide.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-10 OutcomesMTM

West Des Moines, Iowa, United States

OutcomesMTM is a privately owned company that contracts with more than 40 U.S. health plans throughout the United States to deliver personalized Medication Therapy Management (MTM) services to more than 5.5 million patients through a network of more than 50,000 local chain and independent retail pharmacies, nationwide. OutcomesMTM is based in West Des Moines, Iowa.

Sell -
Mergr

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