Ajax Health Tests New Model for Medtech Innovation With Cordis

Duke Rohlen, an entrepreneur who has led four medical-device companies to successful merger deals, is testing a new model for medical-technology innovation.

His team at Ajax Health, a startup he leads, has joined with investment firms Hellman & Friedman and KKR & Co. to acquire medical-device company Cordis from Cardinal Health Inc. in a $1 billion transaction that closed on Monday.