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Cardinal Health To Acquire AssuraMed, Leading Direct-To-Home Medical Supplies Distributor for $2.07 Billion
Date:2/14/2013

DUBLIN, Ohio, Feb. 14, 2013 /PRNewswire/ -- Cardinal Health today announced plans to acquire privately held AssuraMed, a leading provider of medical supplies to patients in the home, for $2.07 billion, or $1.94 billion, net of the present value of tax benefits.  The acquisition will be financed with a combination of $1.3 billion in new senior unsecured notes and the remainder in cash.  The transaction is expected to close by early April 2013.

"AssuraMed is a natural extension of the Cardinal Health businesses and of our mission to be essential to care.  The acquisition of this industry leader allows us to serve the growing number of Americans treated in home settings – particularly those patients recovering from acute episodes and those suffering with chronic diseases.  This is a platform opportunity for Cardinal Health products and services which will be increasingly important as the delivery of care migrates to more cost-effective settings," said George Barrett , chairman and chief executive officer of Cardinal Health. 

"It has been a central component of our strategy to help enable the health care system by serving patients throughout the continuum of care.  This acquisition further aligns us with key trends including demographic shifts and increased consumerism," Barrett noted.  "AssuraMed has an outstanding management team, a mission closely aligned with ours, and a track record of extraordinary customer service and outstanding financial performance.  We will be very excited to welcome the AssuraMed team to the Cardinal Health organization."

Assuming the transaction closes by early April 2013, Cardinal Health expects accretion of $.02 - $.03 to its existing non-GAAP fiscal 2013 earnings per share guidance range.  For fiscal 2014, the company estimates non-GAAP EPS accretion of at least $.18 per share, including the cost of an
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SOURCE Cardinal Health
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