Cardinal Health has agreed to acquire two home medical supply businesses for a combined $360 million in cash, expanding its capabilities in diabetes management, urology and other direct-to-patient product categories.

The Dublin, OH-based pharmaceuticals and health care products distributor announced July 20 that it will acquire AdaptHealth Corp.’s Diabetes Health business and all of Strive Medical, a multi-specialty supply provider focused primarily on urology.

The purchase price remains subject to working capital adjustments. Both transactions require customary closing conditions and regulatory approvals, Cardinal Health said. The company expects the acquisitions to increase its adjusted earnings per share during the first 12 months after closing.

AdaptHealth’s Diabetes Health business serves more than 225,000 patients annually through a centralized, mail-order and direct-to-patient model. Its offerings include continuous glucose monitors and other supplies used for ongoing diabetes management.

Strive Medical, an NMS Capital portfolio company, serves more than 20,000 patients annually. The durable medical equipment provider specializes in urology, wound care, ostomy and incontinence supplies delivered directly to patients.

Strive also handles insurance billing involving Medicare, Medicaid and more than 5,000 private insurance plans.

“These strategic transactions build on the synergies created by our recent investments in home care,” Cardinal Health Chief Executive Officer Jason Hollar said in the company’s announcement. “As a natural extension of our at-Home Solutions growth strategy, they expand our enterprise-wide depth and breadth across important therapeutic categories like diabetes management and urology.”

Cardinal Health said the deals build upon the operating framework established through its acquisition of Advanced Diabetes Supply. Since completing that transaction, the distributor has migrated all ADS volume onto its at-Home Solutions distribution network and onboarded nearly 500,000 customers.

The company also launched ContinuCare Pathway, a digital referral program designed to connect pharmacies and medical supply providers.

Cardinal Health’s at-Home Solutions unit supplies medical products directly to patients and health care providers managing care outside traditional clinical settings.

J.P. Morgan Securities served as Cardinal Health’s financial adviser for both transactions. Skadden, Arps, Slate, Meagher & Flom and DLA Piper advised Cardinal Health on the AdaptHealth deal, while BakerHostetler and DLA Piper advised the company on its purchase of Strive Medical.

Cardinal Health is scheduled to report its fiscal 2026 fourth-quarter and full-year financial results on Aug. 11.