Cardinal Health commits $1.9 billion cash for deal to buy Solaris Health
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Cardinal Health commits $1.9 billion cash for deal to buy Solaris Health
Cardinal Health will provide about $1.9 billion in cash for the deal. The deal gives it access to a network of community urologists spread across 14 states. It is expected to close by the end of the year.
Aug 12 (Reuters) – Cardinal Health (CAH.N) , opens new tab said on Tuesday its unit would buy Solaris Health and the company would provide about $1.9 billion in cash for the deal, as the drug distributor looks to expand its specialty business.
Cardinal’s specialty business includes costly medicines to treat complex conditions such as cancer and rheumatoid arthritis, and the deal gives it access to a network of community urologists spread across 14 states.
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Solaris Health provides administrative and management support services to healthcare providers in the urological field.
Cardinal said it would buy Solaris from private equity firm Lee Equity Partners and the deal is expected to close by the end of the year.
Reporting by Mariam Sunny in Bengaluru; Editing by Devika Syamnath
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