Cardinal Health to acquire Specialty Networks for $1.2B in cash

Cardinal Health announced that it has entered into a definitive agreement to acquire Specialty Networks, a technology-enabled multi-specialty group purchasing and practice enhancement organization for $1.2B in cash. Specialty Networks creates clinical and economic value for independent specialty providers and partners across multiple specialty GPOs: UroGPO, Gastrologix and GastroGPO, and United Rheumatology. This transaction is subject to the satisfaction of customary closing conditions, including receipt of required regulatory approvals. The transaction is expected to be accretive to non-GAAP earnings per share 12 months following close.