Cordis’s revenues nearly doubled within two years, reaching $443 million by June 1995.
Cordis gained a market leadership position in angioplasty balloons, but that was just the beginning.
With the data obtained from the outcome-based market studies, it quickly recognized the potential value of a device that could be placed in a treated artery to prevent a blockage from recurring. The company went on to develop the stent, which became the fastest-growing product in medical device history, producing nearly $1 billion in revenue in its first year. In 1996, Johnson & Johnson acquired Cordis at $109 a share.