M&A Deal Summary

Cardinal Health Acquires Advanced Diabetes Supply

On November 11, 2024, Cardinal Health acquired distribution company Advanced Diabetes Supply from Court Square Capital Partners for 1.1B USD

Acquisition Highlights
  • This is Cardinal Health’s 9th transaction in the Distribution sector.
  • This is Cardinal Health’s 13th largest (disclosed) transaction.
  • This is Cardinal Health’s 40th transaction in the United States.
  • This is Cardinal Health’s 6th transaction in California.

M&A Deal Summary

Date 2024-11-11
Target Advanced Diabetes Supply
Sector Distribution
Buyer(s) Cardinal Health
Sellers(s) Court Square Capital Partners
Deal Type Add-on Acquisition
Deal Value 1.1B USD

Target

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.

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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: Distribution M&A 9 of 9
Type: Add-on Acquisition M&A Deals 38 of 39
State: California M&A 6 of 6
Country: United States M&A 40 of 41
Year: 2024 M&A 4 of 4
Size (of disclosed) 13 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-11 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.

Buy $2.8B
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

Court Square Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 7.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Court Square Capital Partners (CSCP) is a generalist private equity firm that seeks middle market company investments across the US. CSCP looks to partner with management teams to accelerate revenue growth and improve operating efficiency. Sectors of interest include business services, building products, chemicals, consumer products, food products/services, healthcare, aerospace/defense, manufacturing, media, technology, telecommunications, and transportation. Court Square Capital Partners was formerly known as Citigroup Venture Capital Equity Partners. The Group spun out of Citigroup and became independent in 2006. CSCP is based in New York City.


DEAL STATS #
Overall 56 of 57
Sector: Distribution M&A 4 of 4
Type: Add-on Acquisition M&A Deals 25 of 25
State: California M&A 5 of 5
Country: United States M&A 53 of 54
Year: 2024 M&A 2 of 2
Size (of disclosed) 11 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-22 Dynata

Shelton, Connecticut, United States

Dynata is a global provider of data solutions and technology for consumer and B2B survey research. Dynata reaches participants in 90+ sample countries via internet, telephone, mobile/wireless and mixed-access offerings. Dynata was founded in 1977 and is based in Shelton, Connecticut.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-02-03 Soleo Health

Frisco, Texas, United States

Soleo Health is a national provider of complex specialty pharmacy and infusion services, administered in the home or at alternate sites of care. Soleo Health’s interdisciplinary team, comprised of experienced clinical pharmacists and registered nurses, utilizes a consistent patient management process, which leads to quantifiable clinical and economic value while improving patients’ experience. Soleo Health was founded in 2014 and is based in Frisco, Texas.

Buy -