Cardinal Health sells MedSystems business

Cardinal Health has announced the sale of its MedSystems business to healthcare and life sciences private equity firm Linden.

MedSystems is a manufacturer of surgical protection products and enteral devices that became part of Cardinal Health via the acquisition of Viasys Healthcare in 2007.

It globally markets a comprehensive range of vale-added single-use feeding delivery devices and systems serving the hospital ICU, NICU and PICU markets

These products include the Corflo range of enteral feeding tubes and the Cortrak feeding tube placement system, as well as Corflo Anti-IV enteral feeding safety connection products and the Farrell valve.

Under its new ownership, MedSystems has been renamed Corpak MedSystems, while financial details of the deal have not been disclosed.

Dave Schlotterbeck, vice-chairman and chief executive officer of clinical and medical products for Cardinal Health, said: “Corpak MedSystems is an innovative and growing business, but it does not fit into the core focus of our clinical and medical products businesses.”

He added that Linden has the experience and knowledge to maximise the value of the company in mature healthcare businesses, with the unit having great opportunities for growth outside the Cardinal Health portfolio.

Last month, Cardinal Health announced its financial results for the 2008 fiscal year, reporting a five per cent rise in annual revenues to $91 billion (48 billion pounds).