Cardinal Health is a Fortune 500 health care services company based in Dublin, Ohio.The company specializes in distribution of pharmaceuticals and medical products, serving more than 100,000 locations.
Cardinal Health helps pharmacies, hospitals and ambulatory care sites focus on patient care while reducing costs, improving efficiency and quality, and increasing profitability. Cardinal Health employs more than 30,000 people worldwide.Cardinal Health focuses on improving people's lives through a link in the chain of care, pharmacies, hospitals, and clinics that rely to improve quality, safety and productivity.
Founded in 1971 as Cardinal Foods by Robert D. Walter, the company was initially a food wholesaler. After acquiring the Bailey Drug Company in 1979, it began wholesaling drugs as Cardinal Distribution, Incorporated. The company went public on the NASDAQ stock exchange in 1983 and subsequently began a long string of acquisitions and mergers. In 1988, Walter sold Cardinal Health's food operations to Roundy's. From 1991 to 1996, the company’s sales grew from $1.2 billion to $8.9 billion.
The Cardinal Health Foundation is the charitable arm of Cardinal Health. The company makes annual product donations of over $9 million through international relief organizations and provides up to $1,000 in matching funds for every Cardinal Health employee that makes a charitable donation. In 2008, the foundation established its E3 Grant Program. Over the past seven years, the Foundation has invested more than $7.15 million in funding to 241 hospitals, health systems or other health-related organizations.
Cardinal Health Ranked #35 on the Global Fortune 500 Lists in 2017.
Cardinal Health has made over 30 acquisitions over the years. The most notable one's are as follows-
-Cardinal Health acquired Pyxis Corporation in 1996 for $867M
-In 1999 Cardinal Health acquired Allegiance Healthcare (formerly a division of Baxter Healthcare), During 2001, the company spent approximately $30 billion on acquisitions, including Bindley Western Industries, wholesale distributor of pharmaceuticals based in Indianapolis
-In June 2010, Cardinal Health purchased Healthcare Solutions Holding for $517 million.
-On Oct 4, 2015, Cardinal Health acquired Johnson & Johnson's Cordis (medical) division, a cardiology and endovascular device manufacturer, for $1.94 billion.
-On July 30, 2017, Cardinal Health completed it's acquisition of Medtronic for $6.1 billion. The acquisition was funded with a combination of $4.5 billion in new senior unsecured notes, existing cash and borrowings under our existing credit arrangements.