Davis Polk advised the lenders in connection with a $4.5 billion 364-day senior unsecured bridge facility to Cardinal Health, Inc. in connection with its acquisition of stock and assets consisting of Medtronic plc’s patient care, deep vein thrombosis and nutritional insufficiency businesses.
Medtronic plc is the world’s largest medical technology company, focusing on heart devices, restorative therapies, minimally invasive therapies and diabetes management. Medtronic’s devices are used to treat almost 40 medical conditions.
Cardinal Health, Inc. is a Fortune 500 global, integrated health care services and products company, providing customized solutions for hospital systems, pharmacies, ambulatory surgery centers and physician offices worldwide. Its areas of expertise include logistics, products, business and patient solutions.
The Davis Polk financing team included partner Jason Kyrwood and associate Darren Mahone. The capital markets team included partner John B. Meade and associates Alice Z. Chen and Rahim Manji. All members of the Davis Polk team are based in the New York office.