Editing Cardinal Health (section)

== History ==
Founded in 1971 as Cardinal Foods by [[Robert D. Walter]], the company was initially a food [[wholesaling|wholesaler]].<ref>{{Cite web|last=Williams|first=Mark|title=Cardinal Health CEO Quietly Builds Powerful Company|url=https://www.theledger.com/article/20030226/News/608096394|access-date=2021-08-16|website=The Ledger|language=en}}{{Dead link|date=November 2023 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> After acquiring the Bailey Drug Company in 1979, it began whole selling drugs.<ref name=":0">{{Cite web|date=2006-10-03|title=THE CARDINAL RULES: GROWTH, AGILITY: CARDINAL CEO ROBERT WALTER HAS USED RELENTLESS DEALMAKING TO BUILD A DIVERSE HEALTHCARE GIANT|url=https://www.modernhealthcare.com/article/19990419/PREMIUM/904190325/the-cardinal-rules-growth-agility-cardinal-ceo-robert-walter-has-used-relentless-dealmaking-to-build-a-diverse-hea|access-date=2021-08-16|website=Modern Healthcare|language=en}}</ref> The company went public on the [[NASDAQ]] stock exchange in 1983.<ref name=":0" />

In 1988, Walter sold Cardinal Health's food operations to [[Roundy's]].<ref name=":0" /><ref name="jhc">{{cite web| url=http://www.jhconline.com/executive-interview-bob-walter.html| title=Executive Interview: Bob Walter| date=March 2005| publisher=Journal of Healthcare Contracting| access-date=June 10, 2015}}</ref> From 1991 to 1996, the company's sales grew from $1.2 billion to $8.9 billion.<ref>{{cite web| url=https://www.bloomberg.com/bw/stories/1997-03-02/the-9-billion-company-nobody-knows| title=The $9 Billion Company Nobody Knows| date=March 2, 1997| publisher=Bloomberg Business| access-date=June 10, 2015}}</ref> The company changed its name to Cardinal Health in 1994, and became the third-largest pharmaceutical wholesaler in the United States.<ref name="jhc" /><ref>{{cite book| url=https://books.google.com/books?id=kGQ7N26vJSQC&q=1994+%22Cardinal+Distribution%22+became+Cardinal+Health&pg=PA237| title=Encyclopedia of Business in Today's World: A - C| last=Wankel| first=Charles| date=2009| volume=1| publisher=SAGE Publications| access-date=June 10, 2015| isbn=9781412964272}}</ref>

=== 2000–2019 ===
R. Kerry Clark, a former executive and vice chairman at [[Procter & Gamble]], was appointed president and [[Chief executive officer|CEO]] in April 2006, with Robert D. Walter retaining Chairmanship of the board.<ref>{{cite web| url=http://www.bizjournals.com/columbus/stories/2006/04/17/daily4.html| title=Walter steps down at Cardinal Health, P&G exec takes over| date=April 17, 2006| publisher=Columbus Business First| access-date=June 10, 2015}}</ref> In September 2008, the company announced Clark and Walter would retire and [[George S. Barrett]] would become the chairman and CEO.<ref>{{cite web| url=http://www.bizjournals.com/columbus/stories/2008/10/06/story6.html?page=all| title=Next Cardinal Health CEO sees bright future after spinoff| last=Ghose| first=Carrie| date=October 6, 2008| publisher=Columbus Business First| access-date=June 10, 2015}}</ref><ref>{{cite web| url=http://www.dispatch.com/content/stories/business/2013/05/19/outside-the-box.html| title=Cardinal Health's CEO uses background to think outside the box| last=Wartenberg| first=Steve| date=May 19, 2013| publisher=The Columbus Dispatch| access-date=June 10, 2015}}</ref>

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.<ref name="spinoff">{{cite web |url=http://www.healthcareitnews.com/news/cardinal-health-name-spinoff-after-carefusion-line-announces-amended-consent-decree |title=Cardinal Health to name spinoff after CareFusion line |newspaper=Healthcare IT News |date=February 18, 2009 |access-date=June 13, 2018}}</ref><ref>{{cite web| url=http://www.modernhealthcare.com/article/20090902/NEWS/309029953/hits-brief3-cardinal-health-completes-carefusion-spinoff%26template=emailart| title=Cardinal Health completes CareFusion spinoff| last=Rhea| first=Shawn| date=September 2, 2009| publisher=Modern Healthcare| access-date=June 10, 2015}}</ref> Cardinal Health is now traded on the [[NYSE]] under symbol CAH.<ref>{{cite web|url=https://www.google.com/finance/quote/CAH:NYSE| title=Cardinal Health Inc(NYSE:CAH)}}</ref> 

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.<ref name="cvs">{{cite news | url=https://www.reuters.com/article/us-cvs-cardinalhealth-idUSBRE9B90VB20131210 | title=CVS, Cardinal Health form U.S. generic drug venture | work=[[Reuters]] | date=10 December 2013 | access-date=11 December 2013 | author=Berkrot, Bill | archive-date=10 December 2013 | archive-url=https://web.archive.org/web/20131210225010/http://www.reuters.com/article/2013/12/10/us-cvs-cardinalhealth-idUSBRE9B90VB20131210 | url-status=live }}</ref> The venture was named Red Oak Sourcing and began operations in July 2014.<ref name="redoak">{{cite journal |url=https://www.bizjournals.com/columbus/blog/2014/05/cardinal-health-cvs-generics-venture-red-oak-on.html |title=Cardinal Health, CVS generics venture Red Oak on track for July start |journal=[[Columbus Business First]] |last=Ghose |first=Carrie |date=May 1, 2014 |access-date=June 13, 2018}}</ref>

Between 2014 and 2016, 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".<ref name="WashPo16" /> 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.<ref>{{USBill|114|S.|483}}, 114th Cong. (2015).</ref>

In January 2018, Michael Kaufmann assumed the role of CEO after serving as CFO of the company.<ref>{{Cite web|last=Rose|first=Marla Matzer|title=Cardinal Health's CEO Mike Kaufmann is a steady hand in his new role|url=https://www.dispatch.com/news/20180916/cardinal-healths-ceo-mike-kaufmann-is-steady-hand-in-his-new-role|access-date=2021-08-16|website=The Columbus Dispatch|language=en|archive-date=2021-08-16|archive-url=https://web.archive.org/web/20210816180004/https://www.dispatch.com/news/20180916/cardinal-healths-ceo-mike-kaufmann-is-steady-hand-in-his-new-role|url-status=dead}}</ref>

==== Opioid lawsuits ====
In 2019, Cardinal was one of several drug distributors named in lawsuits related to the [[Opioid epidemic in the United States|opioid crisis in the US]].<ref>{{Cite news|last1=Hakim|first1=Danny|last2=Rashbaum|first2=William K.|last3=Rabin|first3=Roni Caryn|date=2019-04-22|title=The Giants at the Heart of the Opioid Crisis|language=en-US|work=The New York Times|url=https://www.nytimes.com/2019/04/22/health/opioids-lawsuits-distributors.html|access-date=2021-08-20|issn=0362-4331}}</ref> In July 2021, Cardinal Health and other pharmaceutical companies agreed to participate in a $26 billion settlement.<ref name=":4">{{Cite web|last=Williams|first=Mark|title=Cardinal Health to take $140 million charge tied to opioid settlement|url=https://www.dispatch.com/story/business/2021/07/22/cardinal-health-pay-6-4-billion-part-opioid-settlement/8053626002/|access-date=2021-08-20|website=The Columbus Dispatch|language=en-US}}</ref> Cardinal will pay $6.4 billion over 18 years.<ref name=":4" />

In May 2020, Oklahoma Attorney General Mike Hunter sued Cardinal Health in Bryan County District Court, Oklahoma. The lawsuit alleged that he company's actions helped fuel Oklahoma's opioid crisis. The suit was filed along with lawsuits against [[AmerisourceBergen]] and [[McKesson Corporation|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."<ref>{{Cite web|last=Carey|first=Liz|date=2020-05-05|title=Oklahoma Attorney General refiles opioid lawsuit against three distributors|url=https://healthcrisisalert.com/news/20641-oklahoma-attorney-general-refiles-opioid-lawsuit-against-three-distributors/|access-date=2020-05-05|website=Health Crisis Alert|language=en-US}}</ref>

=== 2020–present ===
As of August 2021, it is ranked 14 on the [[Fortune 500]] list with FY2020 annual revenue of $152.9 billion.<ref name=":1">{{Cite web|title=Cardinal Health {{!}} 2021 Fortune 500|url=https://fortune.com/company/cardinal-health/fortune500/|access-date=2021-08-16|website=Fortune|language=en}}</ref> The firm employs 48,000 people worldwide.<ref name=":1" />

==== Acquisitions ====
In 1995, Medicine Shoppe International, the country's largest franchiser of retail pharmacies, was acquired.<ref name=":0" /> The merger represented the first non-distribution acquisition by Cardinal Health.<ref name=":0" />

In 1996, Cardinal Health acquired [[Pyxis Corporation]], a company that developed [[Automated dispensing cabinet|automated pill dispensers]] for hospitals, for $867 million.<ref>{{cite web| url=https://www.nytimes.com/1996/02/08/business/cardinal-deal-to-buy-pyxis-in-stock-swap.html| title=Cardinal Deal To Buy Pyxis In Stock Swap| last=Freudenheim| first=Milt| date=February 8, 1996| work=The New York Times| access-date=June 10, 2015}}</ref>

In 1997, Cardinal Health planned to purchase Bergen Brunswig Corp., to which [[McKesson Corporation]] responded with a bid to purchase Amerisource.<ref name=":2">{{Cite web|title=McKesson Plans to Buy Rival AmeriSource|website=[[Los Angeles Times]] |date=24 September 1997 |url=https://www.latimes.com/archives/la-xpm-1997-sep-24-fi-35503-story.html|url-status=live|archive-url=https://web.archive.org/web/20121107150755/http://articles.latimes.com/1997/sep/24/business/fi-35503|archive-date=7 November 2012}}</ref> Instead, Amerisource and Bergen merged into [[AmerisourceBergen]].<ref name=":2" /> Later that year, Cardinal Health completed the acquisition of Owen Healthcare, the second-largest provider of pharmacy management services in the U.S. at the time.<ref>{{cite web| url=https://www.nytimes.com/1996/11/28/business/cardinal-health-to-purchase-owen-healthcare.html| title=Cardinal Health to Purchase Owen Healthcare| date=November 28, 1996| work=The New York Times| access-date=June 10, 2015}}</ref>

In 1999, the firm acquired the Chicago-based medical products manufacturer and distributor, Allegiance Healthcare (formerly a division of [[Baxter Healthcare]]).<ref name=":0" /> In 2001, the company acquired Bindley Western Industries, a wholesale distributor of pharmaceuticals based in [[Indianapolis]].<ref>{{Cite web|date=15 February 2001|title=Cardinal Health completes Bindley Western acquisition|url=https://www.bizjournals.com/columbus/stories/2001/02/12/daily19.html|url-status=live|access-date=2021-08-16|website=www.bizjournals.com|archive-url=https://web.archive.org/web/20040417115125/http://www.bizjournals.com:80/columbus/stories/2001/02/12/daily19.html |archive-date=2004-04-17 }}</ref>

In April 2006, Cardinal Health purchased Niagara Falls-based ParMed Pharmaceuticals for $40.1 million.<ref>{{Cite web|last=Staff|title=Cardinal Health buying ParMed for $40.1 million|url=https://buffalonews.com/news/cardinal-health-buying-parmed-for-40-1-million/article_5c89c08b-6a1c-5830-a964-80c613f186eb.html|access-date=2021-08-20|website=The Buffalo News|date=9 March 2006 |language=en}}</ref> In June 2007, the firm announced the completion of a [[tender offer]] for VIASYS Healthcare.<ref>{{cite web| url=http://www.healthcareitnews.com/news/cardinal-health-acquires-viasys-15b| title=Cardinal Health acquires VIASYS for $1.5B| date=May 14, 2007| publisher=Healthcare IT News| access-date=June 10, 2015}}</ref>

In June 2010, Cardinal Health announced plans to purchase Healthcare Solutions Holding, a specialty pharmaceutical services company, for $517 million.<ref>{{cite web| url=http://www.dailyfinance.com/2010/06/09/cardinal-health-buys-healthcare-solutions/| title=Cardinal Health Pays $517 Million for Obscure Specialty Pharma Firm| last=Taulli| first=Tom| date=June 9, 2010| publisher=Daily Finance| access-date=June 10, 2015}}</ref> In December 2010, the company acquired Kinray, an independent pharmaceutical wholesaler, increasing Cardinal Health's presence in the independent pharmacy market by 40 percent.<ref name=wsj>Dinah Wisenberg Brin, [https://www.wsj.com/articles/SB10001424052748704104104575622363175617190 "Cardinal Health to Purchase Kinray"], ''The Wall Street Journal'', November 19, 2010</ref> From 2010 to 2014, Cardinal Health acquired 18 companies including Yong Yu, a Chinese drug distributor.<ref>{{Cite web|last=Glenn|first=Brandon|date=2010-11-29|title=Cardinal Health buys Chinese drug distributor for $470 million|url=https://medcitynews.com/2010/11/cardinal-health-buys-chinese-pharmaceuticals-distributor-for-470m/|access-date=2021-08-20|website=MedCity News|language=en-US}}</ref> Cardinal sold Yong Yu in 2017 to Shanghai Pharmaceuticals Holding Co. Ltd. for $1.2 billion.<ref>{{Cite web|title=Cardinal Health sells China business for $1.2B|url=https://www.bizjournals.com/columbus/news/2017/11/15/cardinal-health-sells-china-business-for-1-2.html|url-status=live|access-date=2021-08-20|website=www.bizjournals.com|archive-url=https://web.archive.org/web/20220116082737/https://www.bizjournals.com/columbus/news/2017/11/15/cardinal-health-sells-china-business-for-1-2.html |archive-date=2022-01-16 }}</ref> 

In July 2014, Cardinal Health and CVS formed Red Oak Sourcing, the largest generic drug sourcing operation in the United States.<ref name="dp14" /><ref>{{Cite web|title=Cardinal, CVS to form venture for generics|url=https://www.dispatch.com/article/20131210/NEWS/312109768|url-status=live|access-date=2021-08-20|website=The Columbus Dispatch|language=en|archive-url=https://web.archive.org/web/20210820142753/https://www.dispatch.com/article/20131210/NEWS/312109768 |archive-date=2021-08-20 }}</ref> The companies started buying generic drugs around the world to sell in U.S. markets.<ref name="dp14" />

In March 2015, Cardinal Health signed an agreement to acquire [[Johnson & Johnson]]'s [[Cordis (medical)]] division, a cardiology and endovascular device manufacturer, for $1.94 billion.<ref>{{cite web| url=http://www.dispatch.com/content/stories/business/2015/03/02/cardinal-health-buys-cordis.html| title=Cardinal Health to acquire Cordis for $1.9 billion| last=Wartenberg| first=Steve| date=March 3, 2015| publisher=The Columbus Dispatch| access-date=June 10, 2015}}</ref><ref>{{cite web| url=http://www.foxbusiness.com/industries/2015/03/02/cardinal-health-to-buy-jj-heart-business-for-14b/| title=Cardinal Health to Buy J&J's Heart Business for $1.94B| date=March 2, 2015| publisher=Fox Business| access-date=June 10, 2015| archive-url=https://web.archive.org/web/20150611203318/http://www.foxbusiness.com/industries/2015/03/02/cardinal-health-to-buy-jj-heart-business-for-14b/| archive-date=June 11, 2015| url-status=dead}}</ref> The acquisition was completed on October 4, 2015.<ref>{{cite press release|url=http://www.prnewswire.com/news-releases/cardinal-health-completes-acquisition-of-cordis-300153418.html#|title=Cardinal Health Completes Acquisition Of Cordis|first=Cardinal|last=Health|website=www.prnewswire.com|access-date=14 April 2018}}</ref> Cardinal sold the division in August 2021 to Hellman & Friedman, a private equity firm, for $1 billion.<ref>{{Cite web|title=Cardinal Health to sell off its Cordis device division in $1B deal|url=https://www.fiercebiotech.com/medtech/cardinal-health-to-divest-its-cordis-device-division-1b-deal|access-date=2021-08-20|website=FierceBiotech|date=15 March 2021 |language=en}}</ref>

In April 2017, Cardinal Health announced the plan to acquire the patient product portfolio from [[Medtronic]] for $6.1 billion.<ref>{{Cite web|date=2017-04-18|title=Cardinal Health to acquire Medtronic medical supplies business for $6.1B|url=https://www.modernhealthcare.com/article/20170418/NEWS/170419874/cardinal-health-to-acquire-medtronic-medical-supplies-business-for-6-1b|access-date=2021-08-20|website=Modern Healthcare|language=en}}</ref><ref name=":3">{{Cite web|title=Medtronic closes on $6.1 billion sale of supply lines to Cardinal Health|url=https://www.startribune.com/medtronic-closes-on-6-1-billion-sale-of-supply-lines-to-cardinal-health/437690263/|access-date=2021-08-20|website=Star Tribune|date=August 2017 }}</ref> The acquisition was completed on July 30, 2017.<ref name=":3" />

In November 2024, Cardinal Health announced the plan to acquire Advanced Diabetes Supply Group (ADSG), a leading national direct-to-patient provider of diabetes medical supplies, for about $1.1 billion with plans to merge the company into its at-Home Solutions business.<ref>{{Cite web|title=In brief: Cardinal Health to buy ADS, AMA fights prior auths, Williams Brothers names CEO|url=https://www.hmenews.com/article/in-brief-cardinal-health-to-buy-ads-ama-fights-prior-auths-williams-brothers-names-ceo|access-date=2025-04-08|website=NHM News}}</ref><ref>{{Cite press release|title=Cardinal Health announces two strategic additions to its portfolio|url=https://www.prnewswire.com/news-releases/cardinal-health-announces-two-strategic-additions-to-its-portfolio-302301928.html|access-date=2025-04-08|website=PR Newswire}}</ref> The acquisition was complete by April 2024. <ref>{{Cite web|title=Cardinal Health completes acquisition of the Advanced Diabetes Supply Group (ADSG)|url=https://newsroom.cardinalhealth.com/2025-04-01-Cardinal-Health-completes-acquisition-of-the-Advanced-Diabetes-Supply-Group-ADSG|access-date=2025-04-08|website=Cardinal Health Newsroom}}</ref>