DUBLIN, Ohio Health services giant Cardinal Health plans to expand its presence in the specialty pharmacy world with its $517 million acquisition of Healthcare Solutions Holding, a privately held company, Cardinal said Wednesday.
In addition to the $517 million upfront payment, the acquisition includes the opportunity for earn-out payments of up to $150 million over the next three years, Cardinal said. Healthcare Solutions Holding owns a number of subsidiaries like P4 Pathways and P4 Healthcare, which provide various services to participants in specialty care, including drug companies, physicians and payers. Cardinal said the acquisition would expand its presence in the area of specialty pharmaceuticals, which market research firm IMS Health expects to reach $100 billion in sales by 2013.
“This acquisition is an important building block in our strategy to create a differentiated set of services for oncology and specialty customers,” Cardinal CEO George Barrett said. “Healthcare Solutions Holding is a natural extension of Cardinal Health’s businesses and will enable the growth of our specialty distribution operations.”