Cardinal to purchase Healthcare Solutions Holding for $517M

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Cardinal Health has entered into a definitive agreement to acquire Healthcare Solutions Holding in a $517 million cash deal.

Under the terms of agreement, Cardinal will pay upfront and also have the opportunity to earn payments of upwards to $150 million over the next three years.

According to Dublin, Ohio-based Cardinal, Healthcare Solutions Holding has a number of subsidiaries including P4 Pathways and P4 Healthcare and provides tools and services to physicians, pharmaceutical companies and payors. The company said that the purchase will put Cardinal in the pharmaceutical sector.

The business deal is expected to close July 1 during Cardinal’s 2011 fiscal year and the holdings of Healthcare Solutions will be reported by Cardinal’s pharmaceutical segment.