Jul. 20 at 9:34 PM
$CAH — Cardinal Health to buy AdaptHealth's diabetes business, Strive Medical for about
$360 mln cash (225.75 -2.77)
Cardinal Health entered definitive agreements to acquire AdaptHealth's (AHCO) Diabetes Health business and privately held Strive Medical, expanding its at-Home Solutions platform in diabetes and urology. The two tuck-in deals total about
$360 mln in cash, subject to working capital adjustments, and are expected to be accretive to non-GAAP EPS within 12 months of closing. AdaptHealth's diabetes unit serves more than 225,000 people annually through a centralized mail-order direct-to-patient model; Strive Medical serves more than 20,000 people annually across urology, wound care, ostomy and incontinence. Both transactions remain subject to customary closing conditions, including required regulatory approvals.
