Cardinal Health

Is Cardinal Health a subsidiary of another company?
No. Cardinal Health is an independent, publicly traded corporation with no parent company. The company operates independently with its own management structure and board of directors, though it has grown through numerous acquisitions throughout its history.

Is Cardinal Health publicly traded?
Yes. Cardinal Health is publicly traded on the New York Stock Exchange under the ticker symbol CAH. The company has been publicly traded since its IPO in 1983.

When was Cardinal Health founded?
Cardinal Health was founded in 1971 by Robert Walter as a food distributor in Columbus, Ohio. The company entered the pharmaceutical distribution business in 1979, marking the beginning of its transformation into a healthcare services company.

Who founded Cardinal Health?
Cardinal Health was founded by Robert Walter, who started the company as a small food distributor in Columbus, Ohio. Walter's vision and leadership guided the company's transformation into one of the largest healthcare distribution companies in the world.

What is Cardinal Health's annual revenue?
Cardinal Health reported FY2025 revenue of $222.6 billion (fiscal year ended June 30, 2025), a 2 percent decrease from FY2024 due to the OptumRx contract expiration. Excluding this impact, revenue increased 18 percent. Through the first three quarters of FY2026, revenue was $190.6 billion, up 17 percent year-over-year.

Who is Cardinal Health's CEO?
Jason Hollar serves as CEO of Cardinal Health. Hollar described FY2025 as a "transformative year" and has led the company's strategic shift toward specialty healthcare services through The Specialty Alliance MSO platform.

What is The Specialty Alliance?
The Specialty Alliance is Cardinal Health's multi-specialty management services organization (MSO) platform, providing administrative and management services to physician practices. It includes GI Alliance (gastroenterology with 900+ physicians), Urology Alliance (urology with 750+ providers through Solaris Health and other acquisitions), and Navista (oncology with 50+ practice sites). Cardinal Health owns approximately 75 percent of The Specialty Alliance following the Solaris Health acquisition.

What is Cardinal Health's opioid settlement obligation?
Cardinal Health has $4.9 billion accrued as of June 30, 2025 for opioid litigation settlements, including the National Opioid Settlement Agreement (NOSA). The company made payments of $798 million in FY2025 and a fifth annual NOSA payment of $366 million in July 2025. The majority of remaining payments are expected through 2038.

Cardinal Health was founded in 1971 by Robert Walter as a small food distributor in Columbus, Ohio. The company entered the pharmaceutical distribution business in 1979, marking a strategic shift toward healthcare services. Throughout the 1980s, Cardinal Health expanded its pharmaceutical distribution operations and went public in 1983.

The company grew rapidly through acquisitions in the 1980s and 1990s, becoming one of the largest pharmaceutical distributors in the United States. In 1994, Cardinal Health acquired the medical and surgical products business of Baxter International, significantly expanding its medical products portfolio.

Throughout the 2000s and 2010s, Cardinal Health continued to expand through strategic acquisitions and organic growth. The company expanded internationally, particularly in Europe and Latin America. In 2009, Cardinal Health spun off its clinical and medical products businesses into CareFusion, which was later acquired by BD.

In recent years, Cardinal Health has focused on expanding its specialty pharmaceuticals business, healthcare technology solutions, and at-home healthcare services. The company has invested in digital health platforms and data analytics to enhance its healthcare delivery capabilities.

In FY2025, Cardinal Health underwent what CEO Jason Hollar called a "transformative year," deploying $5.3 billion for acquisitions. Key acquisitions included:

• GI Alliance (GIA): Acquired 73 percent ownership interest for approximately $2.8 billion in cash on January 30, 2025. GIA is a management services organization serving gastroenterologists, with over 900 physicians across 345 practice locations in 20 states.
• Integrated Oncology Network (ION): Acquired for approximately $1.1 billion in cash on December 2, 2024. ION is an MSO supporting more than 50 practice sites in 10 states, operating under the Navista brand.
• Advanced Diabetes Supply Group (ADSG): Acquired for approximately $1.1 billion in cash on April 1, 2025. ADS serves approximately 500,000 patients annually with diabetes therapies.
• Urology America: Acquired through GIA on May 30, 2025, for $360 million, establishing the Urology Alliance within The Specialty Alliance.

In FY2026, the company completed the acquisition of Solaris Health on November 3, 2025, for approximately $1.9 billion in cash. Solaris Health is the country's leading urology MSO with over 750 providers across more than 250 practice locations in 14 states. Following the Solaris Health acquisition, Cardinal Health owns approximately 75 percent of The Specialty Alliance.

The company also experienced the expiration of OptumRx contracts, which reduced FY2025 revenue by approximately 18 percent on a comparable basis. Excluding this impact, revenue increased 18 percent in FY2025.

Cardinal Health has established comprehensive sustainability and ethics initiatives focused on healthcare access, supply chain sustainability, and responsible healthcare practices.

Healthcare Access: Cardinal Health plays a crucial role in improving healthcare access through efficient pharmaceutical distribution and medical supply chain management. The company's distribution networks ensure that healthcare providers and patients have access to essential medications and medical supplies. Initiatives focus on reaching underserved communities, supporting rural healthcare providers, and ensuring medication availability during public health emergencies.

Supply Chain Sustainability: The company operates with sustainability practices in medical supply chain management, including efficient logistics, waste reduction, and environmentally responsible distribution. Cardinal Health has implemented programs to reduce packaging waste, optimize transportation routes, and promote sustainable medical product manufacturing.

Ethical Healthcare Practices: Cardinal Health maintains strong ethical standards in healthcare distribution, pharmaceutical pricing, and medical supply management. The company operates comprehensive compliance programs for regulatory requirements, anti-corruption measures, and ethical business practices, including transparent pricing and fair competition.

Healthcare Technology: The company invests in sustainable healthcare technology solutions, including pharmacy management systems, supply chain optimization tools, and data analytics platforms. The Navista Practice Intelligence Suite enables data-driven insights for oncology practices.

Community Health: Cardinal Health maintains community engagement programs focused on healthcare education, disease prevention, and community health improvement. The company supports local health initiatives, medical education programs, and community health clinics.

Environmental Sustainability: Cardinal Health has implemented environmental initiatives including energy-efficient facilities, renewable energy use, and waste reduction programs across its operations.

• Healthcare Supply Chain Excellence: Multiple awards recognizing Cardinal Health's leadership in pharmaceutical distribution and medical supply chain management
• Pharmaceutical Distribution Innovation: Recognition for innovative distribution practices and technology solutions
• Healthcare Technology Leadership: Awards for digital health platforms and healthcare technology solutions
• Community Health Recognition: Acknowledgment for community health programs and social impact initiatives
• Healthcare Ethics Leadership: Recognition for ethical business practices and compliance standards
• Environmental Sustainability: Awards for sustainable healthcare operations and environmental responsibility
• Workplace Excellence: Recognition for employee development and workplace practices in healthcare

Opioid Litigation: Cardinal Health is a party to the National Opioid Settlement Agreement (NOSA) and other opioid-related settlements. As of June 30, 2025, the company had $4.9 billion accrued for remaining opioid litigation settlement payments. The company made payments totaling $798 million in FY2025, including its fourth annual payment under NOSA and settlements with the City of Baltimore and classes of third-party payors and acute care hospitals. In July 2025, the company made its fifth annual NOSA payment of $366 million. The majority of remaining payments are expected through 2038.

Drug Pricing and Distribution Practices: Cardinal Health faces scrutiny regarding drug pricing practices and pharmaceutical distribution margins. The company's role in the pharmaceutical supply chain draws attention from regulators and policymakers concerned about drug costs and pricing transparency.

Regulatory Compliance: The company operates under extensive regulatory scrutiny from the FDA, DEA, and other healthcare regulatory agencies. Cardinal Health must maintain complex compliance programs for pharmaceutical distribution regulations, controlled substance handling, and healthcare quality standards.

Drug Shortages and Supply Chain: Cardinal Health's role in pharmaceutical distribution has drawn scrutiny regarding drug shortages and supply chain resilience. The company faces questions about its ability to maintain adequate medication supplies during public health emergencies.

Market Concentration: As one of the three largest pharmaceutical distributors, Cardinal Health faces scrutiny regarding market concentration and competitive practices from antitrust regulators.

Data Privacy: Cardinal Health's expansion into healthcare technology and data analytics raises questions about data privacy and security, including HIPAA compliance and patient privacy protection.

Goodwill Impairment: In Q3 FY2026, Cardinal Health recorded a $184 million pre-tax goodwill impairment in its Navista and ION reporting unit, reflecting changes in the risk profile of the business plans and increased discount rates. This raised questions about the oncology MSO strategy.