“Market Cap $23.91 B As of May 2014
At a Glance
- Industry: Pharmaceuticals
- Founded: 1971
- Country: United States
- CEO: George Barrett
- Website: www.cardinal.com
- Employees: 33,600
- Sales: $96.74 B
- Headquarters: Dublin, Ohio
#526 Global 2000
- #67 in Sales
- #1469 in Profit
- #872 in Assets
- #467 in Market value
Cardinal Health, Inc. is a healthcare services company providing pharmaceutical and medical products and services that help pharmacies, hospitals, surgery centers, physician offices and other healthcare providers focus on patient care while reducing costs, enhancing efficiency and improving quality. The company operates its business through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, over-the-counter healthcare and consumer products through its pharmaceutical distribution business to retailers, hospitals, and other healthcare providers. It also operates nuclear pharmacies and cyclotron facilities that manufacture, prepare and deliver radiopharmaceuticals for use in nuclear imaging and other procedures in hospitals and clinics. This segment retails pharmacies under the Medicine Shoppe and Medicap brands. It also distributes specialty pharmaceutical products and provides services to pharmaceutical manufacturers, third-party payors and healthcare service providers supporting the marketing, distribution and payment for specialty pharmaceutical products. It also provides pharmacy services to hospitals and other healthcare facilities. The Medical segment distributes a broad range of medical, surgical and laboratory products to hospitals, surgery centers, laboratories, physician offices and other healthcare providers. This segment also manufactures sources and develops its own line of private brand medical and surgical products. The company was founded by Robert D. Walter in 1971 and is headquartered in Dublin, OH.“
“Cardinal Health History
Cardinal Health got its start in 1971 when founder Robert D. Walter opened a small distribution center in Columbus, Ohio. In less than a decade, the then-named Cardinal Foods became a prominent regional food distributor until branching into pharmaceutical distribution in 1979. That was the year the company purchased a Zanesville, Ohio, drug distributor and became known as Cardinal Distribution.
In 1983, Cardinal Health went public and, over the next decade, expanded its fast-growing pharmaceutical distribution business with the acquisition of more than a dozen U.S. drug distributors. By 1987, a year before selling its food distribution segment, Cardinal Health’s pharmaceutical distribution business had become nearly twice the size of its food distribution business.
Over the next few years, Cardinal Health grew rapidly, and revenues exceeded $1 billion in 1991. By 1994, Cardinal Health had established itself as a leader in the drug distribution business with a nationwide presence and annual revenues of approximately $6 billion.
Since then, Cardinal Health has evolved further, serving health care manufacturers and patient care providers around the world. The company’s acquisitions included Pyxis Corp. in automated supply and pharmaceutical dispensing; Owen Healthcare in hospital pharmacy management; Medicine Shoppe International in pharmacy franchising; R.P. Scherer Corp. and Automated Liquid Packaging in drug delivery formulation and contract manufacturing; PCI Services, Inc., in pharmaceutical packaging; Allegiance Corp. in medical-surgical product manufacturing and distribution; Bergen Brunswig in medical-surgical distribution to hospitals and care continuum; and Bindley Western in pharmaceutical distribution.
Today, Cardinal Health provides an integrated offering of innovative products & services to help hospitals, pharmacies and other healthcare providers meet the growing challenges of a dynamic industry. Cardinal Health is a multinational health care industry services provider that applies vast resources, knowledge and expertise to help healthcare manufacturers and patient care providers meet their most pressing challenges, while providing better, safer delivery of care.”
*Information from Forbes.com and Cardinal.com
**Video published on YouTube by “Cardinal Health“