Cardinal Health to acquire Specialty Networks and its PPS Analytics platform, a technology enabled multi-specialty group purchasing and practice enhancement organization in urology, rheumatology and gastroenterology
- Transaction creates increased clinical and economic value for 11,500 specialty providers, including more than 7,000 physicians across 1,200 independent physician practices
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Transaction creates platform for
expansion across specialty therapeutic areasCardinal Health - Transaction enhances capabilities of Cardinal Health Specialty and supports ongoing build of Navista™ Network
The acquisition of Specialty Networks demonstrates
"Expanding in specialty is a top priority for us and we have been investing to expand our offering," said
"Specialty Networks is a leader in specialty practice management, research and technologies that support physicians in delivering best-in-class care to their patients," said
Specialty Networks' PPS Analytics analyzes data from electronic medical records (EMR), practice management, imaging, and dispensing systems and transforms it into meaningful and actionable insights for providers, researchers, payers and policymakers. Using artificial intelligence, such as continuous-learning algorithms and natural language processing, and modern data analytics tools, PPS Analytics analyzes millions of data points, generating valuable insights for diagnostic and therapeutic interventions for the right patient at the right time. A strong complement to the distribution, research and technology capabilities of
Additionally, Specialty Networks' deep understanding of independent specialty physician practices offers
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This transaction is subject to the satisfaction of customary closing conditions, including receipt of required regulatory approvals. The transaction is expected to be accretive to non-GAAP earnings per share 12 months following close.
About
About Specialty Networks
Specialty Networks is an integrated multi-specialty platform with GPOs, life sciences, and research solutions in urology, gastroenterology, and rheumatology. Their solutions include patient population health management, patient engagement, clinical research, and workflow automation technologies to achieve Center of Excellence in Standards of Care, Clinical Research, Practice Operations, and Value-based Care.
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Cautions Concerning Forward-Looking Statements
This news release contains forward-looking statements addressing expectations, prospects, estimates and other matters that are dependent upon future events or developments. These statements may be identified by words such as "expect," "anticipate," "intend," "plan," "believe," "will," "should," "could," "would," "project," "continue," "likely," and similar expressions, and include statements reflecting future results or guidance, statements of outlook, preliminary recast fiscal 2023 results and various accruals and estimates. These matters are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. These risks and uncertainties include risks associated with our ongoing review of our operations, portfolio and businesses, including the risk that our management team could become distracted or that the outcome of such review may have unintended consequences; our ability to manage uncertainties associated with the pricing of branded pharmaceuticals; and risks associated with our planned acquisition of Specialty Networks, including the risk that we may not receive required regulatory approval or otherwise fail to complete the acquisition and the risk that we may fail to realize the anticipated strategic and financial benefits.
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