Cardinal Health to sell Cordis business to Hellman & Friedman for $1 billion

Cardinal Health to sell Cordis business to Hellman & Friedman for $1 billion

Cardinal Health Inc.
CAH,
+2.01%
announced Friday an agreement to sell its minimally invasive cardiovascular technology business Cordis for about $1 billion to Hellman & Friedman. Shares of the pharmaceutical distributor and maker of laboratory products rose 0.5% in premarket trading. The deal is expected to close in the first half of Cardinal Health’s fiscal 2022. The company expects the deal to reduce its medical segment profit by $60 million to $70 million a year. The company expects to record asset-divestiture costs of $125 million, primarily in…

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