Cardinal Health - M&A Summary and Business Overview

DistributionCompany

Cardinal Health M&A Summary

Cardinal Health has acquired 46 companies, including 4 in the last 5 years. A total of 14 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 (35%) and healthcare services (21%).

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 205,012M USD for 2023 and 181,364M USD for 2022.

How many employees does Cardinal Health have?

Cardinal Health has 47,040 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 Activity53
    • M&A Buy Activity43
    • M&A Sell Activity10
  • Total Sectors Invested 10
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 26
  • M&A Advisors 13

Cardinal Health

Cardinal Health, Inc.

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

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


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.8/yr) # 39 - - - - 4 43
vol $24.2B $6.2B $30.4B
Sell (0.4/yr) # 8 - 1 - 1 - 10
vol $4.7B $1.0B $5.7B
  53

Most Recent M&A

Company Date Value Type
GI Alliance 2024-11-11 2.8B USD Add-on Acquisition
Dallas, Texas · www.gialliance.com
North Coast Medical Supply LLC 2024-11-11 1.1B USD Add-on Acquisition
Carlsbad, California · www.northcoastmed.com
Integrated Oncology Network LLC 2024-09-20 1.1B USD Add-on Acquisition
Nashville, Tennessee · www.ionetwork.com
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
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 (35%) 19.4B (64%) 3 (30%) 1.0B (18%)
Healthcare Services 9 (21%) 4.7B (16%) 4 (40%) 1.2B (21%)
Distribution 9 (21%) 4.6B (15%) - -
Life Science 3 (7%) - 2 (20%) 3.5B (61%)
Business Services 2 (5%) 1.2B (4%) - -
Marketing 1 (2%) 200M (1%) 1 (10%) -
Franchising 1 (2%) 348M (1%) - -
Information Technology 1 (2%) - - -
Internet Software and Services 1 (2%) - - -
Test/Measurement Equipment 1 (2%) - - -
Total 43 $30.4B 10 $5.7B

By Geo

State/Country Buy Value Sell Value
United States 40 28.8B 8 4.3B
  California 6 3.0B 1 -
  Tennessee 3 1.4B 1 -
  Georgia 3 - - -
  Ohio 3 4.1B - -
  New York 3 1.3B - -
  Iowa 2 - 1 -
  Illinois 2 5.4B 1 -
  Florida 2 1.9B 1 1.0B
  Massachusetts 2 - 1 -
  New Jersey 1 200M 2 3.3B
  Texas 2 2.8B - -
  Colorado 1 - - -
  Alabama 1 - - -
  New Mexico 1 - - -
  Missouri 1 348M - -
  Michigan 1 1.2B - -
  Maryland 1 517M - -
  Kansas 1 490M - -
United Kingdom 1 - 1 154M
Canada 1 125M - -
  Ontario 1 125M - -
China - - 1 1.2B
France 1 1.5B - -
Domestic 40 (93%) 28.8B (95%) 8 (80%) 4.3B (76%)
Cross-border 3 (7%) 1.6B (5%) 2 (20%) 1.4B (24%)
Total 43 $30.4B 10 $5.7B

Top M&A Advisors

Financial Deals
Goldman Sachs
 3
J.P. Morgan Securities
 2
Lazard Ltd.
 1
Legal Deals
Jones Day
 4
Skadden, Arps, Slate, Meagher & Flom
 4
Wachtell, Lipton, Rosen & Katz
 1

Deal Values

buy # Total
> $1B 12 $27.2B
$100M to $1B 8 $3.2B
TOTAL $30.4B
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)
26%
11 (26%)
Strategic(s)
9%
4 (9%)
Divested to
Investor(s)
70%
7 (70%)
Strategic(s)
20%
2 (20%)

Company Summary

SECTOR

Distribution

Revenue

205,012   14% 2023
181,364   12% 2022
162,467   7% 2021
152,922   6% 2020
145,534   7% 2019
136,809   6% 2018
129,976   7% 2017
121,546   19% 2016
102,531   13% 2015
91,084   10% 2014
101,093   2013
(millions of USD) Show More Show Less

Employees

47,040

Established

1979

Public

NYSE: CAH

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