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Cardinal Health Stock Tumbles on Acquisition News and Quarterly Results
Cardinal Health Stock Tumbles on Acquisition News and Quarterly Results
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BTCCSquare news:
Cardinal Health's shares dropped nearly 7% following the announcement of a $1.9 billion acquisition of Solaris Health and its fiscal Q4 results. The healthcare giant plans to finance the deal with cash and new debt, aiming to close by year-end. Revenue remained flat at $60.2 billion, while adjusted net income ROSE 11% to $501 million.
Market reaction was sharply negative, contrasting with broader index gains. The acquisition targets urology sector expansion through Solaris Health, described as the leading urology MSO in the U.S. Physician partners and Lee Equity Partners will retain a 25% stake in the business.
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