Johnson & Johnson has accepted the March 1 binding offer from Cardinal Health to acquire its Cordis business for approximately $2 billion. The offer was accepted after consultations with relevant works councils and trade unions. The company expects the transaction to close toward the end of 2015, subject to regulatory clearances and other customary closing conditions.

Cordis is a developer and manufacturer of interventional vascular technology, partnering worldwide to treat millions of patients who suffer from vascular disease. The business has operations in more than 50 countries, with an extensive R&D network and a global commercial footprint.

Johnson & Johnson remains dedicated to combating cardiovascular disease through its electrophysiology business, Biosense Webster, in the medical devices segment and its cardiovascular medicine, Xarelto, in the pharmaceutical segment.