Cardinal Health to acquire patient product portfolio from Medtronic for $6.1B
Cardinal Health (Dublin, OH) entered into a definitive agreement to acquire Medtronic’s (Dublin, Ireland) Patient Care, Deep Vein Thrombosis, and Nutritional Insufficiency businesses for $6.1 billion in cash. The Patient Care, Deep Vein Thrombosis and Nutritional Insufficiency businesses encompass 23 product categories across multiple market settings, including numerous industry-leading brands, such as Curity, Kendall, Dover, Argyle, and Kangaroo. Once the transaction is complete, the Patient Care, Deep Vein Thrombosis and Nutritional Insufficiency businesses will become part of Cardinal Health’s Medical segment, which is led by Don Casey, the segment’s CEO. The acquisition is expected to be financed with a combination of $4.5 billion in new senior unsecured notes and existing cash. The transaction is expected to close in Q1 of Cardinal Health’s FY 2018, subject to customary closing conditions, including regulatory clearances.
Henry Schein donates $80,000+ in health supplies, equipment to Children’s Aid Society
Henry Schein Inc (Melville, NY) donated more than $80,000 in health supplies and equipment to the Children’s Aid Society (New York, NY) to support five health centers located in high-need communities throughout New York City. As part of the donation, Henry Schein provided the Children’s Aid Society with hearing test kits, HIV-test kits, dental radiography equipment, and other healthcare supplies to enhance its ability to deliver high-quality, comprehensive health services to children and families in need. The supplies will help equip three health centers located in Manhattan, one in Staten Island, and one in the Bronx.
“We at Henry Schein are pleased to support the Children’s Aid Society in its efforts to expand access to medical and oral health care for underserved children and families throughout New York City,” said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. “This donation does more than help this organization grow its capacity to provide a range of health services; it enhances its ability to help create healthier, happier, and stronger communities.”
Concordance Healthcare acquires Rockwell Medical Supply
Concordance Healthcare Solutions LLC (St. Louis, MO) completed the previously announced acquisition of Rockwell Medical Supply(Seal Beach, CA). Rockwell Medical Supply is a family-owned and operated full-line medical supply distributor located in Southern California with national shipping. Commenting on the acquisition, Tom Harris, co-president and CEO of Concordance, stated, “The combination with Rockwell continues our focus on strategic additions to augment consistent organic growth while also complementing our core business in geographic areas targeted for expansion. I welcome the Rockwell team and look forward to strengthening our vision of becoming the most respected, innovative, national, multimarket, healthcare distribution company.”
Mayo Clinic creates training, command center for Epic EHR upgrade
Mayo Clinic (Rochester, MN) filed a permit to renovate a nearby 165,000-sq-ft building into a training and command center for its EHR migration. The building is part of Mayo Clinic’s effort to create a single EHR and revenue cycle management system. The consolidated EHR and RCM system will replace the three separate EHRs Mayo Clinic currently uses, which are currently run by Cerner Corp (Kansas City, MO) and GE (Waukesha, WI). Mayo Clinic awarded a $1.5 billion contract to Epic Systems (Wisconsin, MN) in 2015. Mayo plans to have the new center operational by July 2017.