Healthcare products firm Cardinal Health of Dublin, OH, has signed a deal to acquire intravenous device firm Alaris Medical Systems of San Diego in a transaction valued at $2 billion.
Cardinal will buy all outstanding shares of Alaris for $22.35 a share, and will assume the company’s outstanding debt. The deal will give Cardinal access to the Alaris line of products related to the safe delivery of intravenous (IV) medications.
Alaris president and CEO David Schlotterbeck will continue to lead Alaris’ operations, and he will report to Cardinal Health president and COO George Fotiades. The deal is expected to be completed in Cardinal’s fourth fiscal quarter, which ends June 30.
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