DUBLIN, Ohio, Feb. 1, 2018 /PRNewswire/ -- Cardinal Health
(NYSE: CAH) today announced the closing of its divestiture of its
Cardinal Health China business to Shanghai Pharmaceuticals Holding
Co., Ltd. ("Shanghai Pharma"). The sale includes Cardinal Health's
pharmaceutical and medical products distribution business in
China. The divestiture does not
include Cardinal Health's remaining businesses in China, including Cordis, its recently acquired
Patient Recovery business, its medical sourcing team or other
functions.
The gross proceeds of the transaction are $1.2 billion; the net proceeds are approximately
$800 million after adjusting for
third party indebtedness, withholding taxes, and other transaction
expenses and adjustments. Cardinal Health plans to provide more
detail on this divestiture in connection with its second quarter
earnings call scheduled for February 8,
2018.
About Cardinal Health
Cardinal Health, Inc. is a
global, integrated healthcare services and products company,
providing customized solutions for hospitals, healthcare systems,
pharmacies, ambulatory surgery centers, clinical laboratories and
physician offices worldwide. The company provides clinically proven
medical products, pharmaceuticals and cost-effective solutions that
enhance supply chain efficiency from hospital to home. Cardinal
Health connects patients, providers, payers, pharmacists and
manufacturers for integrated care coordination and better patient
management. To help combat prescription drug abuse, the company and
its education partners created Generation Rx, a national drug
education and awareness program. Backed by nearly 100 years of
experience, with approximately 50,000 employees in nearly 60
countries, Cardinal Health ranks #15 on the Fortune 500. For more
information, visit www.cardinalhealth.com, follow @CardinalHealth
on Twitter, @cardinalhealthwings on Facebook and connect on
LinkedIn at linkedin.com/company/cardinal-health.
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SOURCE Cardinal Health