Two cash tuck-in acquisitions would expand Cardinal Health's fast-growing at-Home Solutions business in diabetes management and urology and are expected to add to non-GAAP EPS within 12 months of closing.
Cardinal Health said it entered into two definitive agreements to acquire AdaptHealth Corp.'s Diabetes Health business and Strive Medical for a combined approximately $360 million in cash, subject to working capital adjustments. The company said the tuck-in deals are intended to accelerate growth in its at-Home Solutions segment by expanding its presence in diabetes management and urology, building on its earlier acquisition of Advanced Diabetes Supply. Cardinal Health said the transactions, which remain subject to customary closing conditions and regulatory approvals, are expected to be accretive to non-GAAP earnings per share within the first 12 months after closing.