Cardinal Health will retain about 45 percent interest in the company, selling its majority stake for about $650 million, according to a report from the Nashville Post.
When the deal closes, naviHealth CEO Clay Richards will keep his role and gain a seat on the board, and Ron Williams, CD&R operating adviser and former chairman and CEO of Aetna, will become the chairman of the board. Cardinal and CD&R will each hold three other seats on the board.
“This new investment structure provides naviHealth with the resources needed to support and accelerate its growth trajectory. NaviHealth’s leadership team, clinical expertise and proprietary clinical decision support technology are key differentiators in a rapidly growing sector of the healthcare industry,” Cardinal Health CEO Mike Kaufmann said in a press release.
The transaction is expected to close in the third quarter of 2018.
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