Cardinal Health
 |
|
| Public | |
| Traded as | : CAH S&P 500 Component |
| Industry | Pharmaceuticals |
| Founded | 1971 |
| Headquarters | Dublin, Ohio, U.S. |
|
Area served
|
Worldwide |
|
Key people
|
George S. Barrett (Chairman and CEO) |
| Products | Medical and pharmaceutical products and services |
| Revenue |
 US$ 121.5 billion (2016)
|
|
US$ 2.46 billion (2016)
|
|
|
US$ 1.43 billion (2016)
|
|
| Total assets |
US$ 34.1 billion (2016)
|
| Total equity |
US$ 6.55 billion (2016)
|
|
Number of employees
|
37,300 (2016) |
| Website | Cardinalhealth.com |
Cardinal Health, Inc. is a Fortune 500 health care services company based in Dublin, Ohio. The company specializes in distribution of pharmaceuticals and medical products, serving more than 100,000 locations. The company also manufactures medical and surgical products, including gloves, surgical apparel and fluid management products. In addition, it operates the nation’s largest network of radiopharmacies. Cardinal Health provides medical products to over 75 percent of hospitals in the United States. In December 2013, it was announced that Cardinal Health would team up with CVS Caremark, which would form the largest generic drug sourcing operation in the United States. The venture was named Red Oak Sourcing and began operations in July 2014.
Founded in 1971 as Cardinal Foods by Robert D. Walter, the company was initially a food wholesaler. After acquiring the Bailey Drug Company in 1979, it began wholesaling drugs as Cardinal Distribution, Incorporated. The company went public on the NASDAQ stock exchange in 1983 and subsequently began a long string of acquisitions and mergers. In 1988, Walter sold Cardinal Health's food operations to Roundy's. From 1991 to 1996, the company’s sales grew from $1.2 billion to $8.9 billion. In a case study for Harvard Business Review, Mary Teagarden describes Cardinal Health in this period as "one of a handful of large U.S. companies that had achieved earnings-per-share growth in excess of 20 percent for 15 years straight."The company changed its name to Cardinal Health in 1994 and became the third-largest pharmaceutical wholesaler in the United States.
R. Kerry Clark, a former executive and vice chairman at Procter & Gamble, was appointed president and CEO in April 2006, with Robert D. Walter retaining Chairmanship of the board. In September 2008, the company announced Clark and Walter would retire and George S. Barrett would become the chairman and CEO.
Cardinal Health completed the spin-off of its clinical and medical products and nuclear businesses into an independent medical technology company called CareFusion in 2009 with David Schlotterbeck as CEO. Cardinal Health is now traded on the NYSE under symbol CAH. As of July 2016, it is ranked 21 on the Fortune 500 list with FY2016 annual revenue of $102.5 billion. The firm employs 34,000 people worldwide.
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