Private equity firm Clayton Dubilier & Rice (CD&R) has agreed to sell AssuraMed to US major Cardinal Health for $2.07bn, to be funded by a combination of $1.3bn in new senior unsecured notes and cash.
CD&R originally acquired AssuraMed in 2010. CD&R partner Rick Schnall was its lead financial partner on the transaction.
Cardinal said it expects that the acquisition should add two to three cents per share to its non-GAAP earnings in the current fiscal year. In 2014, the impact of the deal on earnings is expected to increase to at least 18 cents per share.
AssuraMed currently serves more than one million patients nationally with more than 30,000 products and had sales of $1bn last year. The company operates through two separate businesses, Independence Medical and Edgepark Medical Supplies.
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