Cordis

What Cordis does

Cordis is a privately held, private-equity-backed interventional cardiovascular medical device company founded in the late 1950s and headquartered in Miami Lakes, Florida, with regional headquarters in Zurich (EMEA) and Singapore (APAC). The company designs, manufactures, and sells drug-eluting balloons (SELUTION SLR), vascular closure devices (MYNX CONTROL, MYNXGRIP, EXOSEAL), self-expanding peripheral and carotid stents (S.M.A.R.T. RADIANZ, PRECISE PRO RX), AAA stent grafts (INCRAFT), vena cava filters (OPTEASE), embolic protection devices (ANGIOGUARD RX), re-entry catheters (OUTBACK Elite), and a broad portfolio of guidewires, diagnostic and guiding catheters, and PTA balloons. Its core technology is the proprietary MicroReservoir sirolimus-release platform combined with Cell Adherent Technology (CAT) on the SELUTION SLR drug-eluting balloon, which delivers sustained limus release for up to 90 days and is positioned as a "metal-free" alternative to drug-eluting stents across coronary and peripheral indications.

The company monetizes primarily through direct sales of hardware devices to hospitals, interventional cardiologists, vascular surgeons, and electrophysiologists across more than 70 countries, with SELUTION SLR commercially available in 65+ countries and investigational in the United States. Pricing is negotiated regionally via direct sales teams, hospital contracts, and group purchasing organizations such as Premier, supplemented by medical education, fellowship grants, and investigator-initiated studies that drive adoption. Cordis is owned by Hellman & Friedman (lead) and KKR (co-investor), who acquired it from Cardinal Health in 2021 for approximately $1 billion, and the company has since deployed significant capital — most notably the up-to-$1.135 billion acquisition of MedAlliance (October 2023) — to position SELUTION SLR as a category-defining asset. Cordis-X, an independent innovation accelerator based in Menlo Park and operated in partnership with Ajax Health, sources next-generation technologies (including the Ladera Large Bore Closure System and the Endovascular Engineering thrombectomy investment) into the Cordis portfolio.

Name

Cordis

Legal name

Cordis US Corp

Website

https://www.cordis.com/

Company type

Private

Founded year

1959

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Cordis is a privately held, PE-backed interventional cardiovascular medical device company that designs and sells drug-eluting balloons (SELUTION SLR), vascular closure devices, stents, and endovascular tools to hospitals and physicians across 70+ countries.

Ownership category

akta.pro rank

Product category

Interventional Cardiology & Endovascular Medical Devices

NAICS

Surgical and Medical Instrument Manufacturing (339112), Electromedical and Electrotherapeutic Apparatus Manufacturing (334510), Surgical Appliance and Supplies Manufacturing (339113)

SIC

Surgical & Medical Instruments & Apparatus (3841), Orthopedic, Prosthetic & Surgical Appliances & Supplies (3842), Electromedical & Electrotherapeutic Apparatus (3845)

akta.pro primary industry

Coronary Stents & Drug-Eluting Technologies (HLAHAFAA)

akta.pro secondary industries

Structural Heart Valves (TAVR/SAVR) & Valve Repair (HLAHAFAB), Vascular Access & Closure Devices (Sheaths, Guidewires, Closure Systems) (HLAHAFAK)

Keywords

• Interventional cardiology devices
• Drug-eluting balloons
• Vascular closure devices
• Peripheral vascular stents
• Endovascular medical devices

Headquarters

HQ city

Hialeah

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Technology or R&D, Supply Chain, Marketing or Sales

Revenue model

1. Cardiovascular medical device sales: Primary revenue stream from the sale of interventional cardiology and endovascular devices (drug-eluting balloons, vascular closure devices, stent systems, catheters, guidewires) to hospitals and healthcare providers globally across more than 60–70 countries.
2. Medical education and grants programs: Cordis supports independent medical education through fellowship grants, educational grants, and investigator-initiated studies, which support adoption of its commercial products but are not directly revenue-generating.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

Cordis manufactures and sells a portfolio of interventional cardiovascular medical devices used by hospitals and physicians for the diagnosis and treatment of coronary and peripheral vascular disease. Its commercial offering spans drug-eluting balloons (SELUTION SLR PTCA and PTA platforms), vascular closure devices (MYNX CONTROL, MYNXGRIP, EXOSEAL), self-expanding and balloon-expandable stents (S.M.A.R.T. RADIANZ, INCRAFT AAA, PALMAZ BLUE, PRECISE), guidewires, diagnostic and guiding catheters, PTA dilatation catheters, embolic protection devices and transradial introducer sheaths. Cordis sells these devices to hospitals and healthcare systems in more than 70 countries through its own direct sales organizations in the Americas, EMEA and APAC.

Product overview

Cordis offers a platform-plus-modules architecture spanning interventional cardiology and peripheral/endovascular interventions, organized across two main portfolios: (1) Interventional Cardiology, anchored by the SELUTION SLR PTCA Drug Eluting Balloon (DEB) using proprietary MicroReservoir sustained sirolimus release, supplemented by MYNX CONTROL / MYNXGRIP / EXOSEAL vascular closure devices, RAIN Sheath transradial introducers, and a full range of guidewires, diagnostic and guiding catheters, and PTCA balloons; and (2) Peripheral Interventions, anchored by the SELUTION SLR PTA Drug Eluting Balloon, the S.M.A.R.T. RADIANZ self-expanding peripheral stent, the BRITE TIP RADIANZ guiding sheath and SABERX RADIANZ PTA dilatation catheter (collectively marketed as the Radianz Radial Peripheral System), the INCRAFT AAA Stent Graft System, the OPTEASE Retrievable Vena Cava Filter, and a full lower-extremity, renal, carotid, and venous portfolio of catheter sheaths, guidewires, diagnostic catheters, and PTA balloons. Cross-cutting products include the ANGIOGUARD RX emboli protection guidewire and the OUTBACK Elite Re-Entry Catheter. Cordis-X serves as an independent innovation accelerator (in partnership with Ajax Health) sourcing new technologies such as the Ladera Large Bore Closure System. Cordis's historical leadership position is rooted in introducing the first guidewire, the first drug-eluting stent (CYPHER), and now the SELUTION SLR DEB platform following the October 2023 MedAlliance acquisition.

Differentiator

Problem solved

Functional benefit

Brands

• Cordis-X: Independent innovation accelerator / growth engine for Cordis, focused on identifying, investing in, and developing next-generation medical device technologies for the Cordis portfolio.
• SELUTION SLR™
• Radianz Radial Peripheral System™
• MYNX CONTROL™

Products and services

• SELUTION SLR PTCA Drug Eluting Balloon (DEB) Latest-generation sirolimus drug-eluting balloon for coronary interventions, using proprietary Cell Adherent Technology (CAT) and MicroReservoirs made from biodegradable polymer mixed with sirolimus to provide controlled and sustained drug release for up to 90 days, designed to deliver drug-eluting stent-equivalent performance without leaving a permanent metal implant.
• SELUTION SLR PTA Drug Eluting Balloon Sirolimus drug-eluting balloon for peripheral (lower extremity / popliteal / SFA) interventions leveraging the MicroReservoir sustained-release technology. Used in the SELUTION SFA Japan Trial and SUCCESS PTA Study demonstrating up to 81.5% 3-year primary patency.
• RAIN Sheath Transradial Hydrophilic Thin-walled Introducer

Named customers7 records

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Eight partnerships are on record, tiered strategic public-sector partner, product innovation partnership, background executive affiliation, strategic cybersecurity vendor, u.s. gpo distribution partnership, flagship acquisition / transformational, growth / venous thromboembolism market expansion and flagship / innovation engine partner.

• State of Floridastrategic public-sector partnerOthers · 17 March 2026
• Ladera Medicalproduct innovation partnershipStrategic or Co-development Partner · 23 October 2025Partnership between Cordis-X and Ladera Medical to develop the Ladera Large Bore Closure System, designed for quick, safe vascular closure after percutaneous catheterization. The FASTEN trial has enrolled its first 25 patients with the goal of obtaining CE Mark approval.
• Cardiovascular Systems, Inc. (CSI)background executive affiliationOthers · 1 April 2025Matthew Muscari, Cordis President of the Americas, previously led CSI's Peripheral Vascular Commercial organization before joining Cordis; not an active commercial partnership but reflects sector expertise and alumni network.
• Palo Alto Networksstrategic cybersecurity vendorTechnology or Integration · 14 October 2024Cordis partnered with Palo Alto Networks to deploy a cyber transformation initiative protecting patient data and blocking emerging threats across the enterprise. The collaboration was featured as a customer case study.
• Premier Inc.u.s. gpo distribution partnershipChannel Partner/ Reseller/ Distributor · 18 July 2024Cordis signed a pricing deal with Premier, a major U.S. healthcare group purchasing organization, simultaneously with FDA approval of the MYNX CONTROL Venous Vascular Closure Device. The agreement enables Premier's member hospitals to access Cordis products under negotiated pricing.
• MedAllianceflagship acquisition / transformationalStrategic or Co-development Partner · 2 October 2023Cordis completed the acquisition of Switzerland-based MedAlliance in October 2023 for up to $1.135 billion including milestone payments through 2029 (initial $35M investment, $200M closing payment, up to $125M regulatory milestones, up to $775M commercial milestones). MedAlliance's proprietary SELUTION SLR™ drug-eluting balloon technology is now central to Cordis's coronary and peripheral vascular portfolios, with over 40,000 SELUTION units used in patient treatment to date.
• Endovascular Engineering (E2)growth / venous thromboembolism market expansionStrategic or Co-development Partner · 5 April 2022Cordis made a strategic investment in Endovascular Engineering (E2), a Menlo Park-based developer of next-generation thrombectomy devices for Deep Vein Thrombosis (DVT) and Pulmonary Embolism (PE). The investment expands Cordis's portfolio into the Venous Thromboembolism Market. E2 was founded in 2019 by Dr. Luis Savastano and is also backed by Santé Ventures and another strategic investor.
• Ajax Healthflagship / innovation engine partnerStrategic or Co-development Partner · 1 January 2021Ajax Health partnered with Cordis to lead and fund Cordis-X, Cordis's independent innovation accelerator. Ajax has over 20 years of experience developing medical devices, and Ajax-developed technologies have generated over $750 million in annual revenue for their acquirers and have been used to treat over one million patients. Ajax's CEO Duke Rohlen also serves as CEO of Cordis-X.

Scale indicators12 records

Recent moves9 records

Expansion highlights7 records

Broad incumbents

• Boston Scientific: Global medical device leader with deep interventional cardiology and peripheral vascular portfolios including drug-eluting stents, balloons, and closure devices. Direct competitor to Cordis in DES, DEB, and vascular closure; serves the same hospitals and interventional cardiologists but at much larger scale.
• Medtronic: Largest medical device company globally, with leading coronary stent (Resolute Onyx), drug-eluting balloon, and peripheral vascular franchises. Competes head-to-head with Cordis across PCI, peripheral, and AAA stent graft markets through its direct sales force and broad hospital contracts.
• Abbott: Major cardiovascular device player with Xience DES, peripheral intervention, and structural heart franchises. Competes with Cordis in coronary stents, imaging, and vascular closure through its large direct sales organization and global hospital footprint.
• Becton Dickinson (BD): BD's Interventional segment (formerly Bard) includes peripheral stents, PTA balloons, drug-coated balloons, and vascular closure devices, directly overlapping Cordis's SFA, BTK, and closure device portfolios. BD's scale and GPO relationships make it one of Cordis's most direct incumbents.

Direct peers

• Terumo: Japanese medical device company with significant interventional cardiology and vascular closure offerings (e.g., TR Band, drug-eluting technologies through Terumo Medical). Competes with Cordis in transradial access sheaths, vascular closure, and coronary intervention products globally.
• Teleflex: Medical device company with vascular closure (e.g., MANTA large-bore closure), interventional cardiology, and peripheral vascular products. Directly competes with Cordis's MYNX CONTROL closure portfolio, particularly in the large-bore structural heart and endovascular space.

Emerging players

• Shockwave Medical: Specialist in intravascular lithotripsy (IVL) for calcium modification in coronary and peripheral interventions. Adjacent disruptor to Cordis's peripheral intervention portfolio; was acquired by Johnson & Johnson, raising competitive intensity in the peripheral space.
• Penumbra: Focused on mechanical thrombectomy and vascular embolization, overlapping with Cordis's E2 investment and broader peripheral/venous portfolio. Competes in the VTE and peripheral arterial thrombectomy segments where Cordis is expanding.
• Inari Medical: Pure-play venous thromboembolism and venous intervention device company (acquired by Stryker). Overlaps with Cordis's E2 thrombectomy investment and the OPTEASE vena cava filter franchise in the venous intervention market.
• AngioDynamics: Mid-cap medical device company focused on peripheral vascular disease and venous intervention, with overlapping product lines in PTA balloons, thrombectomy, and venous access. Smaller scale than Cordis but competes in similar hospital accounts for peripheral intervention procedures.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/cordis
• YouTubeyoutube.com/@cordis_medical
• LinkedInlinkedin.com/company/cordis

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cordis