Cardinal Health (CAH) Sees FY17 EPS at Bottom of Previous Guidance Range
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Medtronic Signs Definitive Agreement to Divest a Portion of Its Patient Monitoring & Recovery Division to Cardinal Health for $6.1 Billion
April 18, 2017 6:56 AM EDTDUBLIN - April 18, 2017 - Medtronic plc (NYSE: MDT) today announced that it has entered into a definitive agreement with Cardinal Health Inc. (NYSE: CAH) to sell its Patient Care, Deep Vein Thrombosis, and Nutritional Insufficiency businesses within the Patient Monitoring & Recovery (PMR) division of its Minimally Invasive Therapies Group (MITG). The transaction is expected to close in Medtronic's second... More
Cardinal Health updates fiscal 2017 guidance; Provides early outlook for future fiscal years
April 18, 2017 6:56 AM EDTDUBLIN, Ohio, April 18, 2017 /PRNewswire/ -- Cardinal Health (NYSE: CAH) today is updating its Non-GAAP1 fiscal 2017 earnings per share (EPS) guidance and providing a preliminary view on fiscal 2018 and 2019. This is in conjunction with this morning's announcement of the planned acquisition of Medtronic's Patient Care, Deep Vein Thrombosis and Nutritional Insufficiency businesses.
Cardinal Health now believes that fiscal 2017 Non-GAAP EPS from continuing operations will be at the bottom of its previous guidance range of $5.35 to $5.50, with the EPS update attributable to expected fourth-quarter results. This takes into consideration generic... More
Cardinal Health to Acquire Leading Patient Product Portfolio from Medtronic for $6.1 Billion
April 18, 2017 6:55 AM EDTDUBLIN, Ohio, April 18, 2017 /PRNewswire/ --Â Cardinal Health (NYSE: CAH) today announced that it has entered into a definitive agreement to acquire Medtronic's Patient Care, Deep Vein Thrombosis and Nutritional Insufficiency businesses for $6.1 billion in cash. The purchase price does not include cash tax benefits of at least $100 million. The acquisition is expected to be financed with a combination of $4.5 billion in new senior unsecured notes and existing cash. The transaction is expected to close in the first quarter of Cardinal Health's fiscal year 2018, subject to customary closing conditions, including regulatory clearances.... More
