Cordis (medical)

Cordis (a Cardinal Health Company)

Founded	1957 (as The Medical Development Corporation)
Founder	Dr. William P. Murphy Jr.
Headquarters	Fremont, California, U.S.
Area served	Worldwide
Products	Medical devices
Website	Cordis.com

Cordis (a Cardinal Health company) develops and manufactures medical devices for diagnostics and interventional procedures to treat patients suffering from coronary and peripheral vascular diseases.

Cordis was founded in 1959 in Miami, Florida and currently operates in North America, EMEA, Asia-Pacific and Latin America markets. The Cordis global headquarters and a Europe, Middle East and Africa hub are located in Baar, Switzerland. The North American operations are based out of the San Francisco Bay area. The Asia-Pacific hub is located in Singapore, and the Latin American hub in Puerto Rico.^[1]

History

The Medical Development Corporation was founded in 1957 in Miami, Florida, by Dr. William P. Murphy Jr. and focused on interventional vascular medicine and neuroscience. In 1959 the company’s name changed to Cordis.

1962 The first synchronous cardiac pacemaker co-developed by Cordis is implanted in a patient.

1970s Cordis introduces the first sheath introducers with hemostasis valves, designed to minimize blood loss during an angioplasty procedure.

1980s Cordis launches a full line of percutaneous transluminal coronary angioplasty (PTCA) guiding catheters.

1990s Cordis introduces the first PTCA balloon utilizing nylon balloon material.

1994 Cordis receives FDA-approval for the first bare-metal stent in the US, the PALMAZ-SCHATZ® Balloon-Expandable Stent for coronary artery applications.

1996 Cordis joins the Johnson & Johnson interventional business called “Johnson & Johnson Intervention Systems (JJIS)” and forms Cordis Corporation. In 1997 Cordis Corporation expanded into the rapidly growing field of electrophysiology through the acquisition of Biosense Inc. One year later, in 1998, Biosense Inc. merged with Webster Laboratories to form Biosense Webster, Inc.

2002 The CYPHER® Sirolimus-eluting Coronary Stent, the first drug-eluting stent for patients with coronary heart disease is approved for use in the EU.

2008 Three million patients worldwide had received the CYPHER® Stent, a milestone unreached by any other drug-eluting stent at that time.

2010 EXOSEAL® an innovative vascular closure device with extravascular bio absorbable plug placement and excellent clinical results receives CE-mark in Europe.

2013 Launch of 'Smart Flex Self-Expanding Stent System. The device belongs to a new generation of self-expandable stents for peripheral indications and is “fully connected and yet flexible.'

2014 Cordis Corporation announced the launch of its INCRAFT^® AAA Stent Graft System (INCRAFT^® System), an ultra-low profile device for use during endovascular aneurysm repair (EVAR) for patients suffering from infrarenal abdominal aortic aneurysms (AAA). This device is an advancement in the EVAR field and provides a new option for patients and physicians seeking a less invasive treatment approach for AAA.

As of 2015, Cordis is a part of Cardinal Health. On October 4, 2015, Cardinal Health announced that it has completed the acquisition of Johnson & Johnson's Cordis business for $1.944 billion.^[2]

In its press release of October 4, 2015 company claims that “The acquisition of Cordis will strengthen Cardinal Health's portfolio of physician preference items, which include offerings in the cardiovascular, wound management, and orthopedics areas.”^[1]

Senior Vice President of equity research with FBR Capital Markets & Co in New York, Steven Halper, expressed his opinion on the acquisition, calling it a “direct outgrowth of the need to reinvest and grow the business". Furthermore, he believes that Cardinal Health inherits not only Cordis’ large portfolio of interventional cardiology products, but also a wide global footprint and a name in the marketplace. In 2014, Cordis had sales of $780 million with 70% of revenue coming from overseas all of which was attractive to Cardinal Health.^[2]

2017 Cordis received the CE Mark for its new RAILWAY™ Sheathless Access System, which enables direct access to the radial artery with a guiding catheter and eliminates the need for an introducer sheath, reducing the size of the arterial puncture site up to 2F compared to a conventional sheath system.

On April 18, 2017, Cardinal Health (NYSE: CAH) announces that it has entered into a definitive agreement to acquire Medtronic's Patient Care, Deep Vein Thrombosis and Nutritional Insufficiency businesses for $6.1 billion in cash.^[3]

Strategic agreements

On October 31, 2016 Cardinal Health announces several new strategic distribution agreements enabling Cordis, Cardinal Health’s interventional vascular business, to expand its product portfolio in select countries globally. These distribution agreements are related to coronary stents and percutaneous transluminal coronary angioplasty (PTCA) balloon catheters in Cordis’ portfolio of products that support the treatment of patients undergoing percutaneous coronary intervention.^[4]

On March 31, 2017 Cardinal Health announced two new strategic agreements that will enable Cordis, Cardinal Health’s interventional vascular business, to rapidly expand its cardiology product offering in China. These strategic agreements will add new percutaneous transluminal coronary angioplasty (PTCA) balloon catheters, manufactured both in China and internationally, to the Cordis’ portfolio. PTCA balloon catheters play a key role in the treatment of patients undergoing percutaneous coronary intervention (PCI). In China, more than 500,000 PCI procedures are performed each year. [April, 2016, 19th CCIF, release by Prof. Huo Yong (霍勇)]

Product categories

Worldwide impact of Cardiovascular Disease

• CVDs are the number 1 cause of death globally: more people die annually from CVDs than from any other cause.
• An estimated 17.7 million people died from CVDs in 2015, representing 31% of all global deaths. Of these deaths, an estimated 7.4 million were due to coronary heart disease and 6.7 million were due to stroke .
• Over three quarters of CVD deaths take place in low- and middle-income countries.
• Out of the 17 million premature deaths (under the age of 70) due to noncommunicable diseases in 2015, 82% are in low- and middle-income countries, and 37% are caused by CVDs.

[Source: World Health Organization] ^[5]

References