Cardinal Health Sells Majority Stake in NaviHealth

Cardinal Health Sells Majority Stake in NaviHealth

Cardinal Health (NYSE: CAH) does a lot of business with private equity firms, but usually as an acquirer, not a seller. In August 2015, Cardinal acquired NaviHealth from Welsh, Carson, Anderson & Stowe for $290 million. In June 2018, it sold a 55% stake in NaviHealth to Clayton, Dublier & Rice for an undisclosed amount. Cardinal’s initial stake was just 71% in 2015, but it added another 17% share in 2017 for $103 million. It will retain an approximately 45% interest in the company, and will have a call right to reacquire the business. The company said it would realize proceeds of $650 million after tax. Back in 2015, NaviHealth offered software and analytics products to help... Read More »