Ohio-based Cardinal Health announced on July 20th that it had entered into two agreements to accelerate the growth of its at-Home Solutions strategy. One of the two agreements will see Cardinal Health acquire the Diabetes Health business of AdaptHealth Corp., which is based at the Spring Mill Campus in Conshohocken (Whitemarsh Township). The other is the acquisition of Strive Medical, a multi-specialty supply provider with a focus on urology. The transactions totaled approximately $360 million in cash, subject to working capital adjustments.

“These strategic transactions build on the synergies created by our recent investments in home care,” said Jason Hollar, chief executive officer, Cardinal Health. “As a natural extension of our at-Home Solutions growth strategy, they expand our enterprise-wide depth and breadth across important therapeutic categories like diabetes management and urology, further strengthening our leadership in a highly dynamic industry.”

AdaptHealth’s Diabetes Health business, which is reported to have served more than 225,000 people annually, operates primarily on a centralized, mail-order, direct-to-patient model that delivers supplies such as continuous glucose monitors to support the ongoing management of diabetes. AdaptHealth also offers products for respiratory care, sleep therapy, and other items for at-home care.

From the press release, “These transactions are subject to the satisfaction of customary closing conditions, including receipt of required regulatory approvals, and are expected to be accretive to non-GAAP earnings per share in the first 12 months following close.”

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