Here’s what you should know:
1. Cardinal Health expects to close the transaction at the end of the fiscal year.
2. The sale will include Cardinal Health’s pharmaceutical and medical products distribution business.
3. Cardinal Health expects to transfer ownership of all assets related to Cardinal Health China to Shanghai Pharma at the transaction’s close.
4. The deal does not include Cardinal Health’s remaining China-based assets including Cordis, its patient recovery business and its medical sourcing team among others.
Cardinal Health CEO George Barrett said in a release, “It has been an honor to serve the people of China through our distribution business for the past seven years. We recognize that significant scale is required to be a market leader in China and with that in mind, we are delighted to announce that Shanghai Pharma has agreed to purchase our distribution business in China.”
More articles on supply chain:
FDA approves 1st medicine with digestible sensor — 4 key notes
What ASCs should do to stay ahead of hurricane-caused drug shortages — 4 insights
AHA urges government to resolve drug shortages — 3 insights
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.