Cardinal Health Inc, the second- largest US drug distributor by revenue, said it agreed to buy closely held AssuraMed for $2.07 billion to add home delivery services of health-care products. The purchase price will be $1.94 billion once the present value of tax benefits is added, Dublin, Ohio-based Cardinal Health said in a statement today. The company plans to finance the deal with $1.3 billion in senior unsecured notes and the rest in cash.
AssuraMed, based in Twinsburg, Ohio, has about $1 billion in revenue and more than 1 million customers. With the purchase, Cardinal Health will start supplying 30,000 products in areas such as diabetes and wound care to patients in their homes, an important service as the elderly and chronically ill increasingly receive care there, according to the company.
