Cardinal Health Acquires AccessClosure for $320 Million

Cardinal Health will pony up $320 million to acquire AccessClosure, a manufacturer of vascular closure devices, including the Mynx family of products for femoral artery sealing.

The deal gives Cardinal access to “another physician preference category,” said CEO Don Casey, noting AccessClosure’s strong customer base. Cardinal will also benefit from AccessClosure’s cost-effective service model and “seasoned” management team, Casey said.

AccessClosure President and CEO Gregory Casciaro said the acquisition will give the Santa Clara, Calif., company the “existing scale and a structure to grow this business more rapidly.” 

Cardinal, which markets products ranging from surgical clippers to inventory management services, reported revenues of approximately $101 billion in fiscal year 2013, AccessClosure’s sales exceed $80 million annually, the company said.

The deal is set to close by early June. — Lena Freund

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