Cardinal Health has agreed to acquire AdaptHealth's Diabetes Health business and home medical supply company Strive Medical in deals valued at about $360 million in cash, expanding its at-Home Solutions business into diabetes management and urology.

The Dublin, Ohio-based company said the transactions remain subject to customary closing conditions, including regulatory approvals. Cardinal Health expects both acquisitions to be accretive to non-GAAP earnings per share within the first 12 months after closing.

The acquisition of AdaptHealth's diabetes business adds a mail-order, direct-to-patient operation that serves more than 225,000 people each year. The business primarily supplies diabetes management products, including continuous glucose monitors.
The purchase of Strive Medical brings a provider focused on urology, wound care, ostomy and incontinence supplies. The company serves more than 20,000 patients annually through a direct-to-patient model.

The deals follow Cardinal Health's acquisition of Advanced Diabetes Supply (ADS), which closed about a year ago. According to the company, it has completed the integration of ADS ahead of schedule, migrating its customer volume onto the at-Home Solutions distribution network, adding nearly 500,000 customers and launching its ContinuCare Pathway digital referral program linking pharmacies with home medical suppliers.

"These strategic transactions build on the synergies created by our recent investments in home care," said Jason Hollar, CEO of Cardinal Health. "As a natural extension of our at-Home Solutions growth strategy, they expand our enterprise-wide depth and breadth across important therapeutic categories like diabetes management and urology, further strengthening our leadership in a highly dynamic industry."

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