Cardinal Health to buy medical supplier AssuraMed for $2.07 billion

(Reuters) - U.S. drug wholesaler Cardinal Health Inc said it plans to acquire AssuraMed, a privately held direct-to-home medical supply distributor, for about $2.07 billion.

The acquisition will be financed with $1.3 billion in new senior unsecured notes and cash, and is expected to close by early April.

Cardinal Health said the deal would add 2 cents to 3 cents per share to adjusted fiscal 2013 earnings if the deal closes in early April. It would add at least 18 cents per share to adjusted earnings in fiscal 2014.

The deal will give Cardinal access to the growing number of Americans who are treated in home settings.

"This is a platform opportunity for Cardinal Health products and services which will be increasingly important as the delivery of care migrates to more cost-effective settings," George Barrett, chairman and chief executive, said in a prepared statement.

AssuraMed, with sales of about $1 billion in 2012, serves more than 1 million patients nationally with more than 30,000 products.

AssuraMed operates through two separate businesses, Independence Medical and Edgepark Medical Supplies.

(Reporting by Debra Sherman; Editing by Roshni Menon and Nick Zieminski)

Source: http://news.yahoo.com/cardinal-health-buy-medical-supplier-assuramed-2-07-125117585--finance.html

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