US private investment firm Hellman & Friedman (H&F) is exploring the sale of portfolio company Cordis, a provider of cardiovascular devices, and is targeting a valuation of more than $9bn, according to a report by Bloomberg.
The potential deal would represent a nearly 10x return on the $1bn acquisition from Cardinal Health in 2021.
The report cites unnamed sources as indicating that around half a dozen publicly listed medtech companies are said to be weighing bids for the business, which produces stents, catheters, and other cardiovascular devices.
The potential sale highlights continued investor appetite for established medtech platforms.
