Cardinal Health purchases Kinray, Inc., a leading pharmaceutical distributor serving the New York
metropolitan area, for $1.3 billion in an all-cash transaction.
"Yong Yu" has annual sales of more than $1 billion and its offerings include distribution to about 49,000 hospitals and clinics, and more than 123,000 pharmacies, according to Cardinal.
Cardinal expands its specialty pharmaceuticals business by buying Healthcare Solutions Holding LLC for $517 million in cash with the potential to pay another $150 million over three years.
Mark R. Blake becomes Executive Vice President, Strategy and Corporate Development.
Blake joined Cardinal Health from Medco Health Solutions, Inc., where he served as vice president of Business Development.
The drug wholesaler Cardinal Health said Monday it would spin off its high-margin clinical and medical products businesses as a stand-alone medical technology company.
Borschow Hospital & Medical Supplies Inc. engages in the wholesale distribution of pharmaceutical products, medical supplies, and nutritional products in Puerto Rico.
Cardinal Health announced it would buy Viasys Healthcare Inc. for $1.42 billion, an acquisition hat will help Cardinal expand in international markets.
Cardinal Health's third quarter earnings fell 87% because it reserved $600 million towards the possible settlement of a lawsuit.
Cardinal Health's second quarter revenues rose 13% to $21.8 billion, exceeding expectations on the Street. Cardinal also agreed to sell it's PTS segement to Blackstone Group for $3.3 billion in cash.