Add-on Acquisition • Medical Products

Johnson & Johnson Acquires Cordis

On November 7, 1995, Johnson & Johnson acquired medical products company Cordis for 1.8B USD

Acquisition Context

This is Johnson & Johnson’s 3rd transaction in the Medical Products sector.
This is Johnson & Johnson’s 14th largest (disclosed) transaction.
This is Johnson & Johnson’s 4th transaction in the United States.
This is Johnson & Johnson’s 1st transaction in Florida.

Investment Fate

Cordis was divested to a consortium of strategic buyers in 2015 for 1.9B USD.
Cordis was divested to a consortium of buyers in 2021 for 1.0B USD.

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M&A Deal Summary
Date	November 7, 1995
Target	Cordis
Sector	Medical Products
Buyer(s)	Johnson & Johnson
Deal Type	Add-on Acquisition
Deal Value	1.8B USD

Target Company

Cordis

Miami Lakes, Florida, United States

Cordis is a provider of cardiovascular and endovascular medical devices. Its products are primarily used in procedures to diagnose and treat the narrowing or blockage of arteries. Cordis was founded in 1966 and is based in Miami Lakes, Florida.

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Buyer Overview 1

Buyer

Johnson & Johnson

New Brunswick, New Jersey, United States

Category	Company
Founded	1886
Sector	Consumer Products
Employees	132,000
Revenue	88.8B USD (2024)

DESCRIPTION

Johnson & Johnson's corporate headquarters in New Brunswick, New Jersey.

Johnson & Johnson is a global healthcare conglomerate that operates across three primary sectors: Pharmaceuticals, Medical Devices, and Consumer Health. In Pharmaceuticals, it develops treatments for a variety of conditions, including immunology, oncology, and infectious diseases. The Medical Devices segment offers a range of equipment and devices for healthcare professionals, encompassing orthopedics, surgery, and cardiovascular care. Its Consumer Health division markets a wide array of products, spanning baby care, oral care, skin care, over-the-counter drugs, and women's health, with popular brands such as Band-Aid, Tylenol, and Neutrogena under its umbrella. Johnson & Johnson was formed in 1886 and is based in New Brunswick, New Jersey.

Deal Context for Buyer	#
Overall	4 of 47
Sector: Medical Products	3 of 17
Type: Add-on Acquisition	3 of 39
State: Florida	1 of 1
Country: United States	4 of 39
Year: 1995	1 of 1
Size (of disclosed)	14 of 31

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
1994-09-07	Eastman Kodak - Diagnostics Products Division Rochester, New York, United States Eastman Kodak - Diagnostics Products Division is a producer of machines that can run hundreds of chemical tests an hour.	Buy	$1.0B

DATE

TARGET

DEAL TYPE

VALUE

1994-09-07

Eastman Kodak - Diagnostics Products Division

Rochester, New York, United States

Eastman Kodak - Diagnostics Products Division is a producer of machines that can run hundreds of chemical tests an hour.

Buy

$1.0B

FOLLOWING DEAL

DATE	TARGET	DEAL TYPE	VALUE
1997-01-01	Eastman Kodak - Diagnostics Products Division Rochester, New York, United States Eastman Kodak - Diagnostics Products Division is a producer of machines that can run hundreds of chemical tests an hour.	Sell	-