With an attempt to raise its shares of specialty pharmaceutical distribution, Cardinal Health (CAH) purchased Metro Medical Supply Inc. The company out of Nashville, Tenn. is one of the countries biggest privately held specialty-pharmaceutical distribution companies. Their distribution involves medical and surgical inventory “to physician practices, home-care providers, long-term-care facilities and dialysis centers,” which was referenced from the company’s website.
Cardinal officials followed through on a purchase, however they declined to name the company or give information on the purchase price. Cardinal has acquired 19 companies since 2010 and entered into a series of partnerships. It acquired Johnson & Johnson’s (JNJ) Cordis for $1.94 billion in March and previously in November, Cardinal completed an agreement with New York-based Henry Schein Inc. (HSIC) to distribute medical supplies to doctors’ offices across the country.
Cardinal’s shares closed Wednesday at $88.90, down slightly (about 1%) from the previous trading day.