The 10 largest medical device companies in the world

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Cardinal Health logoNo. 7: Cardinal Health

Dublin, Ohio

www.cardinalhealth.com

2016 RANK: 7

Employees: 30,251**

Revenue: $13,500,000,000*

Fiscal year ending: June 30, 2017

 

Key Personnel:

George Barrett, chairman & CEO; Donald Casey Jr., CEO, medical segment; Craig Cowman, EVP, global sourcing; Joseph DePinto, president; Cardinal Health specialty solutions; Mike Duffy, president, hospital solutions & global supply chain; Jon Giacomin CEO, pharmaceutical segment; Michele Holcomb, EVP, strategy and corporate development; Mike Kaufmann, CFO; Pamela Kimmet, chief human resources officer; Steve Mason, president, Cardinal Health at Home; Craig Morford, chief legal & compliance officer; Patricia Morrison, EVP, customer support services & CIO; Tiffany Olson, president, nuclear pharmacy services; Bill Owad, SVP, operational excellence; David Wilson, president, Cordis

Description:

Cardinal Health continued the medical device play it began with the $320 million acquisition of AccessClosure in May 2014 by putting up $1.94 billion for Johnson & Johnson’s Cordis stent-making arm, which closed in October 2015.

Cardinal put Cordis back into the drug-eluting stent game via an overseas distribution agreement with Biosensors International in May 2016, inking a deal for Cordis to sell the BioFreedom, BioMatrix NeoFlex, BioMatrix Alpha and Chroma stents made by Biosensors in Europe, the Middle East, Australia and New Zealand. Cordis said it plans to gradually roll out a new private-label brand for stents: Lumeno.

The company’s board approved a $1 billion share repurchasing program after Cardinal in May 2016 tightened its earnings outlook for the rest of the year, meaning nearly $1.4 billion is on the table for stock buybacks.

And just before this issue went to press, Navidea agreed to deal its LymphoSeek injection for sentinel lymph node detection to Cardinal for up to $310 million.

* Revenues from Cardinal Health’s medical segment.

** MDO accidentally published Cardinal Health’s total employee count, versus medical segment employee count, in last year’s Big 100.

Download the full Big 100 list here.

And you can also pick up a free hard copy of the Big 100 issue at DeviceTalks Boston on Oct. 2!

Next>>

How do you know your technology is disruptive enough to break conventional wisdom?

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On December 12th, Rowe will sit down with MassDevice editor Brad Perriello for a long ranging discussion about the inside story on how these technologies came to market and what Rowe learned along the way.


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