Cardinal Health (NYSE:CAH) said today that its Cordis subsidiary is getting back into the drug-eluting stent game via an overseas distribution agreement with Biosensors International (PINK:BSNRY).
The deal calls 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.
“We are very excited about this DES agreement with Biosensors, because it represents our strong commitment to expand our product portfolio to support the demands in cardiovascular care today,” Cordis president David Wilson said in prepared remarks. “While Cordis is known for developing product innovations, partnerships like this provide an opportunity to rapidly expand our unmatched portfolio and deliver increased value to customers and the patients they serve.
“I am proud of the role Cordis played in establishing the value of coronary stents many years ago. Today, with Cordis’ strong legacy and understanding of the DES market and the business and operational expertise of Cardinal Health, we have established an unmatched, combined offering in the cardiovascular space,” Wilson said.
“The agreement between Biosensors and Cardinal Health is an important milestone in our continuing strategy to deepen our market penetration and expand as well as diversify our product offering,” added Biosensors CEO Jose “Pepe” Calle. “By working together we will be able to leverage our joint capabilities in delivering world-class breakthrough products including BioFreedom, as well as maximizing the increased market coverage and geographical footprint of the Biosensors and Cordis franchises.
“I am excited about the potential of the partnership,” Calle said. “With our superior technologies, strong relationships with physicians and medical practitioners, as well as our positive partnership with the healthcare community around the world, I am confident that Biosensors is continuing to strengthen its position in the global cardiovascular care market.”
Cardinal Health paid $1.94 billion for Cordis in October 2015.
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