M&A Deal Summary

Cardinal Health Acquires GI Alliance

On November 11, 2024, Cardinal Health acquired healthcare services company GI Alliance from Apollo Global Management for 2.8B USD

Acquisition Highlights
  • This is Cardinal Health’s 9th transaction in the Healthcare Services sector.
  • This is Cardinal Health’s 3rd largest (disclosed) transaction.
  • This is Cardinal Health’s 40th transaction in the United States.
  • This is Cardinal Health’s 2nd transaction in Texas.

M&A Deal Summary

Date 2024-11-11
Target GI Alliance
Sector Healthcare Services
Buyer(s) Cardinal Health
Sellers(s) Apollo Global Management
Deal Type Add-on Acquisition
Deal Value 2.8B USD

Target

GI Alliance

Dallas, Texas, United States
GI Alliance is an independent gastroenterology practice in the US, measured both by provider count and by revenue, operating in Dallas, Fort Worth, Austin, San Antonio, Houston, and several metropolitan markets in Louisiana. GI Alliance was founded in 2018 and is based in Dallas, Texas.

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Buyer(S) 1

Buyer

Cardinal Health

Dublin, Ohio, United States

Category Company
Founded 1979
Sector Distribution
Employees47,922
Revenue 226.8B USD (2024)
DESCRIPTION
Entrance to Cardinal Health's corporate headquarters in Dublin, Ohio.
Entrance to Cardinal Health's corporate headquarters in Dublin, Ohio.

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.


DEAL STATS #
Overall 43 of 44
Sector: Healthcare Services M&A 9 of 10
Type: Add-on Acquisition M&A Deals 38 of 39
State: Texas M&A 2 of 2
Country: United States M&A 40 of 41
Year: 2024 M&A 4 of 4
Size (of disclosed) 3 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-11 Advanced Diabetes Supply

Carlsbad, California, United States

Advanced Diabetes Supply is a national distributor of durable medical equipment specializing in diabetes supplies. ADS holds the most valued accreditations in the diabetes supply industry, including NABP, URAC, and NABP. Advanced Diabetes Supply was founded in 2002 and is based in Carlsbad, California.

Buy $1.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-08-12 Solaris Health

Fort Lauderdale, Florida, United States

Solaris Health is a urology-centric, multi-specialty physician practice management group providing clinical, operational, and administrative support to affiliated practices. Solaris Health was formed in 2020 and is based in Fort Lauderdale, Florida.

Buy $1.9B

Seller(S) 1

SELLER

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1990
PE ASSETS 72.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.


DEAL STATS #
Overall 74 of 77
Sector: Healthcare Services M&A 5 of 5
Type: Add-on Acquisition M&A Deals 24 of 25
State: Texas M&A 9 of 9
Country: United States M&A 53 of 54
Year: 2024 M&A 3 of 3
Size (of disclosed) 5 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-12 Freedom CNG

Houston, Texas, United States

Freedom CNG provides clean and affordable compressed natural gas (CNG) to commercial fleets, municipalities, school districts, and other high-volume fuel users through multiple fueling sites in Houston and throughout Texas. Freedom CNG was founded in 2012 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-18 State Group

Franklin, Tennessee, United States

State Group is a multi-trade industrial and specialty services contractor that provides comprehensive electrical and mechanical trade services to Fortune 100 companies in the power generation, automotive, oil and gas, communications, metals and transportation industries. The State Group performs over two million man-hours annually of retrofit, maintenance, construction and emergency services and maintains a tooling and equipment inventory to support its skilled workforce. State Group was founded in 1961 and is based in Franklin, Tennessee.

Buy -