Cardinal Health Acquires Two Home Care Businesses for $360M
CAH sits 64% above its 52-week low of $137.75.
Summary
Cardinal Health is buying AdaptHealth's Diabetes Health unit and Strive Medical for about $360 million in cash. The deals expand its at-Home Solutions into diabetes management and urology, building on last year's Advanced Diabetes Supply acquisition. Management says the transactions will be accretive to non-GAAP EPS within the first year. With a $53B market cap, the price is modest but strategically deepens its home care platform. The acquisitions are subject to regulatory approvals and customary closing conditions.
At the time of this announcement, CAH was trading at $225.75 on NYSE in the Trade & Services sector, with a market capitalization of approximately $52.9B. The 52-week trading range was $137.75 to $243.21. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: PR Newswire.