Economic news

Cardinal Health to acquire Integrated Oncology Network for $1.12 billion

2024.09.20 15:57

(Reuters) -Cardinal Health on Friday agreed to acquire community cancer center operator Integrated Oncology Network for $1.12 billion in cash, marking its expansion into cancer care.

The Dublin, Ohio-based company is the latest to join the trend of healthcare service companies diversifying beyond drug distribution.

Rival McKesson (NYSE:) recently acquired a unit of Florida Cancer Specialists & Research Institute for $2.49 billion, while Cencora, in partnership with TPG Inc., purchased OneOncology for $2.1 billion in 2023.

The deal gives Cardinal Health (NYSE:)’s cancer-focused unit Navista access to a network of more than 100 healthcare providers across 10 states in the U.S.

As part of the agreement, Integrated Oncology Network’s more than 50 practice sites will join Navista, which offers reimbursement services, management support, and various other services to community oncology practices.

© Reuters. FILE PHOTO: U.S. dollar banknotes are seen in this photo illustration taken February 12, 2018. REUTERS/Jose Luis Gonzalez/Illustration/File Photo

“Since its 2023 investor day at which Navista was unveiled, Cardinal has talked about expanding its work with community practices, and we see today’s acquisition as providing a positive step in that direction in the oncology space,” said J.P.Morgan analyst Lisa Gill.

Cardinal Health expects the transaction to be accretive to its profit 12 months after closing the deal.



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 98,377.36 0.01%
ethereum
Ethereum (ETH) $ 3,389.81 0.82%
tether
Tether (USDT) $ 1.00 0.01%
solana
Solana (SOL) $ 253.20 0.93%
bnb
BNB (BNB) $ 660.19 0.77%
xrp
XRP (XRP) $ 1.47 0.95%
dogecoin
Dogecoin (DOGE) $ 0.425494 2.55%
usd-coin
USDC (USDC) $ 1.00 0.02%
cardano
Cardano (ADA) $ 1.05 1.23%
staked-ether
Lido Staked Ether (STETH) $ 3,390.19 0.78%
tron
TRON (TRX) $ 0.2094 2.95%
avalanche-2
Avalanche (AVAX) $ 42.61 0.50%
stellar
Stellar (XLM) $ 0.522395 6.72%
the-open-network
Toncoin (TON) $ 6.14 6.34%
shiba-inu
Shiba Inu (SHIB) $ 0.000026 4.01%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,006.86 0.96%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 98,074.28 0.01%
polkadot
Polkadot (DOT) $ 9.14 2.16%
chainlink
Chainlink (LINK) $ 18.09 2.29%
bitcoin-cash
Bitcoin Cash (BCH) $ 513.36 0.20%
weth
WETH (WETH) $ 3,389.89 0.83%
sui
Sui (SUI) $ 3.44 0.65%
near
NEAR Protocol (NEAR) $ 6.94 2.05%
pepe
Pepe (PEPE) $ 0.00002 2.25%
leo-token
LEO Token (LEO) $ 8.66 0.28%
litecoin
Litecoin (LTC) $ 97.00 4.28%
aptos
Aptos (APT) $ 12.41 3.98%
uniswap
Uniswap (UNI) $ 11.01 1.77%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,570.26 0.73%
internet-computer
Internet Computer (ICP) $ 11.82 1.42%
hedera-hashgraph
Hedera (HBAR) $ 0.144225 3.34%
usds
USDS (USDS) $ 1.00 0.11%
crypto-com-chain
Cronos (CRO) $ 0.189503 4.43%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.563551 2.10%
ethereum-classic
Ethereum Classic (ETC) $ 29.04 3.23%
render-token
Render (RENDER) $ 7.97 0.31%
bittensor
Bittensor (TAO) $ 532.11 1.53%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.49 2.61%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.02%
kaspa
Kaspa (KAS) $ 0.152601 0.57%
bonk
Bonk (BONK) $ 0.000047 0.48%
whitebit
WhiteBIT Coin (WBT) $ 24.45 1.20%
vechain
VeChain (VET) $ 0.043113 0.41%
arbitrum
Arbitrum (ARB) $ 0.852681 2.90%
dai
Dai (DAI) $ 1.00 0.02%
cosmos
Cosmos Hub (ATOM) $ 8.67 3.69%
blockstack
Stacks (STX) $ 2.25 5.83%
okb
OKB (OKB) $ 56.12 4.02%
filecoin
Filecoin (FIL) $ 5.58 4.28%
mantra-dao
MANTRA (OM) $ 3.70 1.86%