What's Happening?
Cardinal Health has announced a $1.9 billion agreement to acquire a majority stake in Solaris Health from Lee Equity Partners. This acquisition aims to expand Cardinal Health's Specialty Alliance, a multi-specialty management services organization platform. The deal will give Cardinal Health a 75% stake in Solaris Health and is expected to be completed by the end of the year, pending customary closing conditions.
Why It's Important?
The acquisition is significant as it addresses the growing need for urology services in the U.S., where there is a notable shortage of urologists. This shortage has led to delayed diagnoses and increased rates of advanced-stage conditions, particularly in rural areas. By creating the Urology Alliance, Cardinal Health aims to improve access to urology care and reduce health disparities. The acquisition also aligns with Cardinal Health's broader urologic strategy, which includes recent acquisitions of other urology providers.
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What's Next?
The acquisition is expected to be completed by the end of the year, subject to closing conditions. Cardinal Health will continue to expand its urology services through the Urology Alliance, potentially improving access to care and addressing the shortage of urologists in the U.S.
