Cardinal Health to Acquire Harvard Drug Group for $1.115 Billion

(Before It's News)

On Friday, June 5, Cardinal Health, Inc. (NYSE/CAH) announced that it would acquire The Harvard Drug Group for $1.115 billion. (Source: Cardinal Health, June 5, 2015.) Cardinal Health is a healthcare services company specializing in the distribution of pharmaceuticals and medical products. It serves more than 60,000 locations. The company also manufactures medical and surgical products. Cardinal Health is headquartered in Dublin, Ohio. The Harvard Drug Group is a distributor of generic pharmaceuticals, over-the-counter medications, and related products. It serves institutional, retail, and alternate care customers. The company is currently owned by Court Square Capital Partners, a private equity firm. Last year, the Harvard Drug Group had revenue of around $450 million. Cardinal health would fund the $1.115 billion acquisition with existing cash and new debt. The transaction would include about 450 employees and two distribution facilities. Upon the announcement, shares of Cardinal Health dropped 1.5% at the market’s open, bouncing back to $87.43 at midday.

Continue Reading>> Cardinal Health to Acquire Harvard Drug Group for $1.115 Billion

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