Cardinal Health today announced the completion of the acquisition of AccessClosure, a leading manufacturer and distributor of extravascular closure devices in the United States. The $320 million acquisition was an all-cash transaction.
"We're excited about the AccessClosure acquisition, because it's another great example of innovating to provide solutions and cost savings to the health care industry," said Don Casey, CEO of Cardinal Health's Medical Segment. "This acquisition is aligned to the company's targeted growth areas, and we're looking forward to similar opportunities for further expansion."
AccessClosure, based in Santa Clara, Calif., has annual sales of more than $80 million, driven by a direct sales force. The company's Mynx family of vascular closure devices is clinically proven and patient-friendly. Articles and information on the product line can be found on AccessClosure's website, www.accessclosure.com.
Cardinal Health expects the transaction to have minimal impact on non-GAAP earnings in fiscal year 2014 and to be slightly accretive to non-GAAP earnings in fiscal 2015. Financial results of AccessClosure will be reported as part of the Medical segment.