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Cardinal Health to Acquire AccessClosure

By HospiMedica International staff writers
Posted on 20 Apr 2014
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Image: The Mynx Ace vascular closure device (Photo courtesy of AccessClosure).
Image: The Mynx Ace vascular closure device (Photo courtesy of AccessClosure).
Cardinal Health (Dublin, OH, USA) has signed an agreement to acquire AccessClosure (Santa Clara, CA, USA), a manufacturer and distributor of extravascular closure devices, for USD 320 million.

Cardinal Health hopes that the purchase will boost its interventional devices segment with the addition of the Mynx polyethylene glycol (PEG) vascular closure devices, biodegradable vascular sealant devices that help physicians to seal the femoral artery using a unique, secure, sealant which dissolves within 30 days, leaving nothing behind but a healed artery. The deal also aligns Cardinal Health with trending market forces and customers' need for value-driven care and comprehensive healthcare solutions in the interventional cardiology area.

“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,” said Don Casey, CEO of Cardinal Health’s Medical Segment. “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.”

“We are extremely pleased to join a healthcare solutions company like Cardinal Health which has existing scale and a structure to grow this business more rapidly and meet the needs of our current and future customers,” said Gregory Casciaro, president and CEO of AccessClosure. “With Cardinal Health’s resources and customer relationships, we can now more readily answer market demand for our innovative solutions that improve both the doctor and patient experience.”

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