Cardinal Health (Dublin, OH) completed its acquisition of Metro Medical (Nashville, TN), an independent specialty distributor. Terms of the acquisition have not been disclosed. Cardinal Health Inc. has confirmed a trade journal’s report that it has acquired specialty pharmaceutical distributor Metro Medical Supply Inc. The Nashville, Tennessee, company had been the largest independent supplier in specialty – which includes chemotherapy drugs and higher-priced medications for rare diseases – according to a report on the acquisition last week by Adam Fein, a consultant and founder of the online pharmaceutical industry report Drug Channels. At the time, neither company had announced the deal. Cardinal spokeswoman Debbie Mitchell confirmed it to me via email Tuesday, but said the company is not releasing terms or details of Metro Medical’s size. Dublin-based Cardinal (NYSE:CAH) has projected its specialty drug business would reach $5 billion in sales this year, propelled by advances such as new Hepatitis C treatments. Cardinal by far is the smallest of the big three health-care distributors in the space: AmerisourceBergen Corp. (NYSE:ABC) and McKesson Corp. (NYSE:MCK) together control two-thirds of specialty distribution. But CEO George Barrett told me in an exclusive interview in Friday’s Columbus Business First that he likes Cardinal’s position in the marketplace and doesn’t see a need to get bigger just to catch the two rivals. Fein said Metro Medical could increase Cardinal’s presence in specialties of rheumatology and kidney disease.
Market Pulse transactions shown herein are provided as a matter of public record. These transactions have been compiled from press releases, corporate announcements and other public sources to provide an overview of acquisition and merger activities within the healthcare and life sciences sectors.