Cardinal Health to Acquire AccessClosure
DUBLIN, Ohio, April 2, 2014 —Cardinal Health today announced an agreement to acquire privately held AccessClosure Inc., a leading manufacturer and distributor of extravascular closure devices in the United States, for $320 million. Subject to customary closing conditions and regulatory clearances, the all-cash transaction is expected to close by early June 2014.
Cardinal Health expects the transaction to have minimal impact on non-GAAP earnings in fiscal year 2014 and be slightly accretive to non-GAAP earnings in fiscal 2015.
AccessClosure’s annual sales are more than $80 million, driven by a direct sales force. The company’s Mynx family of patient-friendly vascular closure devices helps physicians seal the femoral artery using a unique, secure sealant, which dissolves within 30 days, leaving nothing behind but a healed artery. Mynx allows patients to safely ambulate more quickly, which in turn, means patients can return home sooner.
More articles and information can be found on AccessClosure’s website, www.accessclosure.com.