02.09.18
Cardinal Health has closed its divestiture of its Cardinal Health China business to Shanghai Pharmaceuticals. The sale includes Cardinal Health's pharmaceutical and medical products distribution business in China. The divestiture does not include Cardinal Health's remaining businesses in China, including Cordis, its recently acquired patient recovery business, its medical sourcing team or other functions.
The gross proceeds of the transaction are $1.2 billion; the net proceeds are approximately $800 million after adjusting for third party indebtedness, withholding taxes, and other transaction expenses and adjustments. Cardinal Health plans to provide more detail on this divestiture in connection with its second quarter earnings call scheduled for February 8, 2018.
The gross proceeds of the transaction are $1.2 billion; the net proceeds are approximately $800 million after adjusting for third party indebtedness, withholding taxes, and other transaction expenses and adjustments. Cardinal Health plans to provide more detail on this divestiture in connection with its second quarter earnings call scheduled for February 8, 2018.