Cardinal Health (NYSE: CAH), Dublin, OH, has agreed to acquire The Harvard Drug Group, Livonia, MI, a distributor of generic pharmaceuticals, over-the-counter medications and related products to retail, institutional and alternate care customers, for $1.1 billion.
Owned by Court Square Capital Partners, THDG had revenues of $450 million in 2014. There are 450 employees and two distribution facilities included in the transaction.
"The Harvard Drug Group aligns perfectly with our commitment to provide the most comprehensive line of pharmaceutical products for the broadest range of customers," said Cardinal Health CEO George Barrett. "This acquisition enhances our ability to support retail and institutional customers and further utilizes Red Oak, our joint venture with CVS Health to source generics."