Hellman & Friedman LLC signed a definitive agreement to acquire Cordis Corporation from Cardinal Health, Inc. (NYSE:CAH) for approximately $1 billion on March 12, 2021. The acquisition price includes buyer’s assumption of certain liabilities and seller’s retention of certain working capital accounts. After closing, most assets and liabilities associated with the Cordis business will transfer to H&F. Cardinal Health will retain full authority for lawsuits related to inferior vena cava filters in the United States and Canada, as well as liability associated with these matters. Ajax Health and Zeus Health are partners to H&F in the transaction and will be injecting growth into Cordis' powerful platform, and will do so through investments in the core business and through an independent R&D engine – the 'Cordis Accelerator'. Cordis Corporation reported revenue of $750 million. The transaction is subject to customary closing conditions and regulatory clearances. As of June 1, 2021, the European Commission approved the transaction. The transaction is expected to close in the first half of Cardinal Health's fiscal year 2022. J.P. Morgan Securities LLC acted as the exclusive financial advisor and Richard Witzel, Jr., Brian Duwe, Craig Alcorn, Lynn McGovern, Steven Sunshine, Sarah Beth Rizzo and Kristin Davis of Skadden, Arps, Slate, Meagher & Flom LLP, Stikeman Elliott LLP, Bech-Bruun Dragsted and Hannes Snellman Attorneys Ltd. acted as the legal advisor to Cardinal Health. UBS Investment Bank acted as the sole financial advisor to Hellman & Friedman, Kyle P. Elder, Richard J. Campbell, Matthew H. O'Brien, Jordan Turban, David M. Nemecek, and Austin Glassman of Kirkland & Ellis LLP and Fasken Martineau DuMoulin LLP acted as the legal advisor to Hellman and H&F's committed financing for the transaction provided by Deutsche Bank Securities Inc. and UBS Securities LLC. Stefan Schneider and Christian Fulda of Jones Day acted as legal advisor to Cardinal Health, Inc. CMS von Erlach Poncet acted as legal advisor to Hellman & Friedman LLC. Hellman & Friedman LLC completed the acquisition of Cordis Corporation from Cardinal Health, Inc. (NYSE:CAH) on August 2, 2021. Hellman paid approximately $930 million net of cash transferred to settle the transaction.