Cardinal Health to acquire Viasys Healthcare for 1.5 bln usd |
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Published
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Mon, 14 May 2007 12:30
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LONDON (Thomson Financial) - Cardinal Health said it will acquire Viasys Healthcare in a deal worth around 1.5 bln usd, including the assumption of outstanding debt.Cardinal said it will make a cash tender offer to acquire all outstanding shares of Viasys common stock for 42.75 usd per share.It added the the acquisition will expand its clinical and medical products for acute-care customers, provide a range of complementary products to its medical disposables business and will leverage its integrated hospital selling organisation in the US.Cardinal said the transaction is expected to be accretive to earnings in fiscal 2009 and added it will realise synergies from the transaction of 85-100 mln usd per year on a pretax basis by fiscal 2010.It said it expects to complete the transaction this summer and reiterated its guidance for the current fiscal year.Pennsylvania-based Viasys posted revenues of 610 mln usd in 2006.tf.TFN-Europe_newsdesk@thomson.comms1COPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Cardinal Health closes $3.3B unit sale 