Healthcare Business News

Cardinal Health completes $320 million AccessClosure deal

By Beth Kutscher
Posted: May 12, 2014 - 1:00 pm ET

Cardinal Health has closed its $320 million acquisition of AccessClosure, a manufacturer of vascular closure devices, providing it a foothold in the interventional cardiology market.

Dublin, Ohio-based Cardinal paid cash for AccessClosure, which has annual sales topping $80 million. The deal is expected to have minimal impact on earnings this year, with the first benefits seen in fiscal 2015, Cardinal said in a release.

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Cardinal is looking for similar transactions to further expand the business, according to the release.

Cardinal disclosed the deal in April. AccessClosure, based in Santa Clara, Calif., markets the Mynx vascular closure device, designed to seal the femoral artery and fully dissolve within 30 days.

Cardinal has been rapidly diversifying away from its core drug wholesaler and distribution business. This latest acquisition follows its 2012 entry into the orthopedic trauma solutions market.

Follow Beth Kutscher on Twitter: @MHbkutscher

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