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Cardinal Health (NYSE: CAH), Dublin, OH, has agreed to acquire Medtronic's patient care, deep vein thrombosis and nutritional insufficiency businesses for $6.1 billion. The purchase price does not include cash tax benefits of at least $100 million. The acquisition is expected to be financed with a combination of $4.5 billion in new senior unsecured notes and existing cash. The transaction is expected to close in the first quarter of Cardinal Health's fiscal year 2018, subject to customary closing conditions, including regulatory clearances.
The patient care, deep vein thrombosis and nutritional insufficiency businesses encompass 23 product categories across multiple market settings, including numerous industry-leading brands, such as Curity, Kendall, Dover, Argyle and Kangaroo.