Cardinal Health Agrees to Acquire AssuraMed for $2.07B

Dublin, Ohio-based drug supplier Cardinal Health announced it has agreed to acquire medical supplies distributor AssuraMed for $2.07 billion and expectsthe deal to close by April.

The acquisition will add ostomy, diabetes, insulin therapy, urological, wound care and incontinence products to its inventory. Including business from AssuraMed's $150 million buyout in January of medical supplier Invacare, Cardinal Health said Assuramed posted $1 billion in 2012 revenue.

Cardinal previously lost its contract with Express Scripts Holding, and its agreements with Walgreen and CVS Caremark are due to expire this summer.

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