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Cardinal Health Announces Purchase of Healthcare Solutions Holding

June 10, 2010
by root
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Drug wholesaler Cardinal Health (Dublin, Ohio) today announced a definitive agreement to purchase specialty pharmaceutical company, Healthcare Solutions Holding, LLC in an upfront $517 million all-cash transaction. The agreement includes the opportunity for earn-out payments of up to $150 million over the next three years.

The acquisition is subject to customary closing conditions and regulatory clearance, but is expected to close early in Cardinal Health’s 2011 fiscal year, which begins on July 1.

Healthcare Solutions Holding is the parent company of a number of subsidiaries including P4 Pathways and P4 Healthcare, which provide tools, services and data to specialty care participants including physicians, pharmaceutical companies and payors. The acquisition will expand Cardinal Health's current capabilities and reach in specialty pharmaceuticals, a segment of the market which IMS Health forecasts will grow at twice the rate of traditional pharmaceuticals for the next five years and exceed $100 billion in sales by 2013.

"This acquisition is an important building block in our strategy to create a differentiated set of services for oncology and specialty customers," said George Barrett, chairman and chief executive officer of Cardinal Health.

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