Cardinal Health to acquire Strive Medical and AdaptHealth diabetes business for $360 million

Cardinal Health agreed to acquire multi-specialty medical supply company Strive Medical and the diabetes business of AdaptHealth for a combined $360 million in cash. Strive Medical specializes in urology, wound care, ostomy and incontinence supplies and serves more than 20,000 customers annually. AdaptHealth's diabetes business is a direct-to-patient supplier of diabetes medical supplies including continuous glucose monitors and serves more than 225,000 patients annually. Cardinal said the acquisitions are expected to be accretive to earnings within a year of closing and will expand its at-home solutions business.