McGaw Park, Ill., May 23, 2006 - Cardinal Health, Inc. (NYSE: CAH), the leading provider of products and services supporting the health-care industry, today announced it has completed the acquisition of Denver Biomedical, Inc., a designer and manufacturer of specialized medical products for chronic fluid management in the chest and abdomen. Terms of the agreement were not disclosed.
Based in Golden, Colorado, Denver Biomedical has 50 employees. It markets specialty drainage products worldwide for hospital and home use, primarily for terminally-ill cancer patients. Founded in 1969, Denver Biomedical's products include the Pleurx® Pleural Catheter System, the Denver® Ascites Shunt, and the Denver® Pleural Effusion Shunt. Denver Biomedical was the first company to receive FDA clearance specifically for an indwelling catheter for drainage of chronic pleural and ascitic fluids.
"Well recognized by clinicians, Denver Biomedical's products are a great fit with our existing business," said Tom Daulton, vice president and general manager, Special Procedures, Cardinal Health. "These products significantly enhance patient quality of life and reduce hospital costs."
Cardinal Health manufactures and markets a full range of industry-leading devices used in biopsy and spine procedures. Its major product lines in these areas include the Vertemax Vertebral Augmentation System, Achieve®, Temno® and Tru-Cut® biopsy needles and trays and Jamshidi® bone marrow biopsy needles.
"We take great pride in our products, support to the medical community and our passion for service excellence. After careful consideration, we selected Cardinal Health as a partner that could successfully continue this tradition," said Bonnie Vivian, president, Denver Biomedical. "We are looking forward to accelerating our growth as part of Cardinal Health."
The chronic fluid drainage market provides a vital service to patients, providing at-home relief for fluid build-up. This acquisition supports Cardinal Health's strategic focus and rounds out the company's growing Para/Thoracentesis product offering.
About Cardinal Health
Headquartered in Dublin, Ohio, Cardinal Health, Inc. (NYSE: CAH) is a $75 billion, global company serving the health-care industry with a broad portfolio of products and services. Through its diverse offering, Cardinal Health delivers integrated health-care solutions that help customers reduce their costs, improve efficiency and deliver better care to patients. The company manufactures, packages and distributes pharmaceuticals and medical supplies, offers a range of clinical services and develops automation products that improve the management and delivery of supplies and medication for hospitals, physician offices and pharmacies. Ranked No. 19 on the Fortune 500, Cardinal Health employs more than 55,000 people on six continents. More information about the company may be found at www.cardinalhealth.com.
Contact: Donna J. Gaidamak
Investors: Jason Strohm