In June 2007, the firm announced the completion of a tender offer for VIASYS Healthcare. In April 2006, Cardinal Health purchased Niagara Falls-based ParMed Pharmaceuticals for $40.1 million. In 2001, the company acquired Bindley Western Industries, a wholesale distributor of pharmaceuticals based in Indianapolis. In 1999, the firm acquired the Chicago-based medical products manufacturer and distributor, Allegiance Healthcare (formerly a division of Baxter Healthcare). Later that year, Cardinal Health completed the acquisition of Owen Healthcare, the second-largest provider of pharmacy management services in the U.S. Instead, Amerisource and Bergen merged into AmerisourceBergen. In 1997, Cardinal Health planned to purchase Bergen Brunswig Corp., to which McKesson Corporation responded with a bid to purchase Amerisource. In 1996, Cardinal Health acquired Pyxis Corporation, a company that developed automated pill dispensers for hospitals, for $867 million. The merger represented the first non-distribution acquisition by Cardinal Health. In 1995, Medicine Shoppe International, the country's largest franchiser of retail pharmacies, was acquired. The firm employs 48,000 people worldwide. The suit was filed along with lawsuits against AmerisourceBergen and McKesson, and the three lawsuits allege that the three companies provided 'enough opioids to Bryan County that every adult resident there could have had 144 hydrocodone tablets.' 2020–present Īs of August 2021, it is ranked 14 on the Fortune 500 list with FY2020 annual revenue of $152.9 billion. The lawsuit alleged that he company's actions helped fuel Oklahoma's opioid crisis. In May 2020, Oklahoma Attorney General Mike Hunter sued Cardinal Health in Bryan County District Court, Oklahoma.

Cardinal will pay $6.4 billion over 18 years. In July 2021, Cardinal Health and other pharmaceutical companies agreed to participate in a $26 billion settlement. In 2019, Cardinal was one of several drug distributors named in lawsuits related to the opioid crisis in the US. In January 2018, Michael Kaufmann assumed the role of CEO after serving as CFO of the company. The bill, which increases the burden of proof enforcers need to show against drug distributors, was signed into law by President Barack Obama in April 2016. īetween 20, Cardinal, alongside McKesson Corporation, and AmerisourceBergen, spent $13 million lobbying Congress to pass Congressman Tom Marino's 'Ensuring Patient Access and Effective Drug Enforcement Act'. The venture was named Red Oak Sourcing and began operations in July 2014. In December 2013, it was announced that Cardinal Health would partner with CVS Caremark to form a generic drug sourcing operation in the United States. Cardinal Health is now traded on the NYSE under symbol CAH. In 2009, Cardinal Health completed the spin-off of its clinical and medical products businesses into an independent medical technology company called CareFusion with David Schlotterbeck as CEO. Barrett would become the chairman and CEO. In September 2008, the company announced Clark and Walter would retire and George S. Walter retaining Chairmanship of the board. Kerry Clark, a former executive and vice chairman at Procter & Gamble, was appointed president and CEO in April 2006, with Robert D. The company changed its name to Cardinal Health in 1994, and became the third-largest pharmaceutical wholesaler in the United States. From 1991 to 1996, the company's sales grew from $1.2 billion to $8.9 billion. In 1988, Walter sold Cardinal Health's food operations to Roundy's. The company went public on the NASDAQ stock exchange in 1983. After acquiring the Bailey Drug Company in 1979, it began whole selling drugs. Walter, the company was initially a food wholesaler. History įounded in 1971 as Cardinal Foods by Robert D. Cardinal Health provides medical products to over 75 percent of hospitals in the United States. In addition, it operates one of the largest networks of radiopharmacies in the U.S. The company also manufactures medical and surgical products, including gloves, surgical apparel, and fluid management products.

Headquartered in Dublin, Ohio, the company specializes in the distribution of pharmaceuticals and medical products, serving more than 100,000 locations. is an American multinational health care services company, and the 14th highest revenue generating company in the United States.

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