Cardinal Health Invests $320M in Artery Closing TechCardinal Health Invests $320M in Artery Closing Tech
April 2, 2014
Cardinal Health said Wednesday that it will spend $320 million to acquire AccessClosure and its extravascular closure devices technology.AccessClosure's Mynx family of patient-friendly vascular closure devices helps physicians seal the femoral artery using a unique, secure sealant. The sealant dissolves within 30 days, leaving nothing behind but a healed artery. The idea is to allow patients to safely ambulate more quickly--enabling them to get home faster.
Getting patients out of the hospital more quickly could be an attractive proposition, since Obamacare is pushing U.S. health providers to become more efficient. Santa Clara, CA-based AccessClosure has already seen more than $80 million in annual sales. Dublin, OH-based Cardinal Health expects the acquisition to close by early June, pending customary closing conditions and regulatory clearances.
"We are excited about this opportunity because it provides a scalable platform--with an outstanding product, strong customer base, cost-effective service model, and seasoned management team. Our goal is to become the partner of choice for solutions that improve patient care while reducing the cost and complexity of procedures for hospital systems," Don Casey, CEO of Cardinal Health's Medical Segment, said in a news release."Last year we launched our orthopedic trauma solutions to great response, and this acquisition will broaden our offering in another physician preference category. We look forward to further expansion," Casey said.
Chris Newmarker is senior editor of MPMN and Qmed. Follow him on Twitter at @newmarker.
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