Cardinal Health - M&A Summary and Business Overview

DistributionCompany

Cardinal Health M&A Summary

Cardinal Health has acquired 43 companies, including 1 in the last 5 years. A total of 11 acquisitions came from private equity firms. It has also divested 10 assets.

Cardinal Health’s largest acquisition to date was in 2017, when it acquired Medtronic - Patient Care Deep Vein Thrombosis & Nutritional Insufficiency Businesses for $6.1B. It’s largest disclosed sale occurred in 2007, when it sold Catalent to Genstar Capital for $3.3B. Cardinal Health has acquired in 19 different US states, and 4 countries. The Company’s most targeted sectors include medical products (38%) and distribution (20%).

Cardinal Health Business Overview

Where is Cardinal Health headquartered?

Cardinal Health is headquartered in Dublin, Ohio.

What is Cardinal Health’s revenue?

Cardinal Health disclosed revenue of 181,364M USD for 2022 and 162,467M USD for 2021.

How many employees does Cardinal Health have?

Cardinal Health has 44,000 employees.

What sector is Cardinal Health in?

Cardinal Health is a distribution company.

When was Cardinal Health founded?

Cardinal Health was founded in 1979.

M&A Summary

  • M&A Total Activity50
    • M&A Buy Activity40
    • M&A Sell Activity10
  • Total Sectors Invested 10
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 24
  • M&A Advisors 10

Cardinal Health

Cardinal Health, Inc.

7000 Cardinal Place,
Dublin, Ohio 43017
United States,
(614) 757-5000
www.cardinalhealth.com

Cardinal Health is a global distributor of healthcare products. Cardinal Health manufactures medical and surgical products and distributes pharmaceuticals and medical supplies worldwide. Cardinal Health was incorporated in 1979 and is based in Dublin, Ohio.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.2/yr) # 39 - - - - 1 40
vol $24.2B $1.2B $25.4B
Sell (0.4/yr) # 8 - 1 - 1 - 10
vol $4.7B $1.0B $5.7B
  50

Most Recent M&A

Company Date Value Type
Specialty Networks LLC 2024-01-31 1.2B USD Add-on Acquisition
Cleveland, Ohio · www.specialtynetworks.com
Outcomes Medication Therapy Management 2023-07-10 - Merger
West Des Moines, Iowa · www.outcomesmtm.com
Cordis US Corp. 2021-03-12 1.0B USD Divestiture
Miami Lakes, Florida · www.cordis.com
NaviHealth, Inc. 2018-06-13 - Stake Sale
Brentwood, Tennessee · www.navihealth.us
Cardinal Health, Inc. - China Business 2017-11-14 1.2B USD Divestiture
, China
Medtronic - Patient Care, Deep Vein Thrombosis & Nutritional Insufficiency Businesses 2017-04-18 6.1B USD Divestiture
, United States
TelePharm, LLC 2016-08-26 - Add-on Acquisition
Iowa City, Iowa · www.telepharm.com
RainTree Oncology Services 2016-03-11 - Add-on Acquisition
San Diego, California · www.raintreeanalytics.com
Cordis US Corp. 2015-10-04 1.9B USD Divestiture
Miami Lakes, Florida · www.cordis.com
NaviHealth, Inc. 2015-08-25 290M USD Add-on Acquisition
Brentwood, Tennessee · www.navihealth.us
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
The Harvard Drug Group LLC 2015-06-05 Letco Medical LLC 2022-02-02 1
Livonia, Michigan · www.theharvarddruggroup.com Wayne, Pennsylvania · www.letcomedical.com

M&A by Sector

Sector Buy # Value Sell # Value
Medical Products 15 (38%) 19.4B (76%) 3 (30%) 1.0B (18%)
Healthcare Services 7 (18%) 807M (3%) 4 (40%) 1.2B (21%)
Distribution 8 (20%) 3.5B (14%) - -
Life Science 3 (8%) - 2 (20%) 3.5B (61%)
Business Services 2 (5%) 1.2B (5%) - -
Marketing 1 (3%) 200M (1%) 1 (10%) -
Franchising 1 (3%) 348M (1%) - -
Information Technology 1 (3%) - - -
Internet Software and Services 1 (3%) - - -
Test/Measurement Equipment 1 (3%) - - -
Total 40 $25.4B 10 $5.7B

By Geo

State/Country Buy Value Sell Value
United States 37 23.8B 8 4.3B
  California 5 1.9B 1 -
  Ohio 3 4.1B - -
  New York 3 1.3B - -
  Georgia 3 - - -
  Tennessee 2 290M 1 -
  Massachusetts 2 - 1 -
  Iowa 2 - 1 -
  Illinois 2 5.4B 1 -
  Florida 2 1.9B 1 1.0B
  New Jersey 1 200M 2 3.3B
  Texas 1 - - -
  New Mexico 1 - - -
  Missouri 1 348M - -
  Michigan 1 1.2B - -
  Maryland 1 517M - -
  Kansas 1 490M - -
  Colorado 1 - - -
  Alabama 1 - - -
United Kingdom 1 - 1 154M
Canada 1 125M - -
  Ontario 1 125M - -
China - - 1 1.2B
France 1 1.5B - -
Domestic 37 (93%) 23.8B (94%) 8 (80%) 4.3B (76%)
Cross-border 3 (8%) 1.6B (6%) 2 (20%) 1.4B (24%)
Total 40 $25.4B 10 $5.7B

Top M&A Advisors

Financial Deals
Goldman Sachs
3
Lazard Ltd.
1
Morgan Stanley
1
Legal Deals
Jones Day
4
Wachtell, Lipton, Rosen & Katz
1
Ropes & Gray
1

Deal Values

buy # Total
> $1B 9 $22.2B
$100M to $1B 8 $3.2B
TOTAL $25.4B
Largest Medtronic - Patient Care, Deep Vein Thrombosis & Nutritional Insufficiency Businesses
$6.1B (2017-04-18)
sell # Total
> $1B 3 $5.5B
$100M to $1B 1 $154M
TOTAL $5.7B
Largest Catalent, Inc.
$3.3B (2007-01-25)

M&A Connections

Deals
Acquired from
Investor(s)
20%
8 (20%)
Strategic(s)
10%
4 (10%)
Divested to
Investor(s)
70%
7 (70%)
Strategic(s)
20%
2 (20%)

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