( MENAFN - PR Newswire) DUBLIN, Ohio, Nov. 11, 2024 /PRNewswire/ -- Cardinal health (NYSE: CAH ) announced today that it has entered into definitive agreements to acquire two companies that accelerate Cardinal Health's strategic growth areas and that will enhance patient care. The company also provided confirmation of its capital deployment plans.
Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country's leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo (NYSE: APO ). Cardinal Health will purchase its majority stake for approximately $2.8 billion in cash, which will represent 71% ownership.
GIA will operate as a platform within Cardinal Health's Pharmaceutical and Specialty Solutions segment. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country's leading diabetic medical supplies providers, for approximately $1.1 billion in cash.
ADSG will merge with Cardinal Health's at-Home Solutions business. "Today is an exciting day at Cardinal Health as we announce two strategic and financially compelling transactions that build upon our progress in Specialty and accelerate growth in our at-Home Solutions business," said Jason Hollar, Chief Executive Officer, Cardinal Health. "Over the past two years, we have improved operating performance and financial flexibility by executing on our focused growth strategy.
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