Shots:

• Cardinal Health signed an agreement to divest its Cordis medical device business to H&F for ~ $1B including liabilities and working capital accounts. The transaction is expected to close in the H1’ 22
• Following the completion of the agreement- H&F will assume most of the Cordis assets and liabilities while Cardinal Health will retain full authority for lawsuits related to inferior vena cava filters in the US and Canada as well as the liability associated with it
• Additionally- Cardinal Health plans to classify the business as held for sale and expect the pre-tax loss of up to $120M in Q3’21

 ­ Ref: PRNewswire | Image: Consultancy.in