DUBLIN, Ohio (AP) — Cardinal Health Inc. will spend about $2 billion to acquire the medical supplier AssuraMed to extend its reach to patients receiving care at home.
The Dublin, Ohio, company said Thursday that AssuraMed serves more than a million patients and generated sales of about $1 billion in 2012. It said the privately held Twinsburg, Ohio, company is a natural extension of its businesses and also will help it serve ambulatory care locations like doctor's offices.
AssuraMed operates through two separate businesses, Independence Medical and Edgepark Medical Supplies.
Cardinal Health Inc. will pay $2.07 billion for AssuraMed, or $1.94 billion not counting tax benefits it will receive from the deal. It will pay for the acquisition using $1.3 billion in new senior unsecured notes and $770 million in cash. The company said it has received a commitment letter from BofA Merrill Lynch for the loan.
Cardinal expects the deal to close in April.
Company shares climbed 81 cents to $46.25 per share in premarket trading after Cardinal announced the deal.
How to Write a New York Times Op-Ed in Three Easy Steps | Human Events
'Gut wrenching': Deputy Goforth's son wears superhero shirt to funeral he planned to wear with his dad
An Unserious Candidate for an Unserious Country | RedState
CNN: Aide's Fifth Amendment declaration sure makes the Hillary server fiasco look criminal, huh?
Peter Schiff - Meet QT; QE's Evil Twin
Jonah Goldberg - An Arsenal Of Smoking Guns In Clinton Email Scandal
Concealed Carrier Shoots Armed Robber In Detroit... Again. Still. - Bearing Arms - Detroit, Guns Saving Lives, Michigan