Cardinal Health Overview
Mike Kaufmann and Jorge M. Gomez are Cardinal Health’s Chief Executive Officer and Chief Financial Officer respectively. On July 30, 2017, the company announced that it had acquired Medtronic's Patient Care, Deep Vein Thrombosis, and Nutritional Insufficiency business for $6.1 billion. In 2017, Cardinal Health generated a revenue of $129,976,000,000. Below, I will provide an overview of Cardinal Health, including its list of leaders, major news from the past year, and annual revenues from 2015 to 2017.
LIST OF LEADERS
1. Mike Kaufmann - Chief Executive Officer
2. Jon Giacomin - Chief Executive Officer, Medical segment
3. Jorge M. Gomez - Chief Financial Officer
4. Pamela Kimmet - Chief Human Resources Officer
5. Craig Morford - Chief Legal and Compliance Officer
6. Patricia B. Morrison - Chief Information Officer and Executive Vice President, Customer Support Services
7. Steve Blazejewski - President, Global Commercial Solutions
8. Joseph DePinto - President, Cardinal Health Specialty Solutions
9. Steve Mason - President, Cardinal Health at Home
10. Tiffany Olson - President, Nuclear Pharmacy Services
11. Debbie Weitzman - President, US Pharmaceutical Distribution
MAJOR NEWS FROM THE PAST YEAR
On July 30, 2017, Cardinal Health announced that it had acquired Medtronic's Patient Care, Deep Vein Thrombosis, and Nutritional Insufficiency business for $6.1 billion. This business segment included 23 categories across several market sites of care and brands such as Curity, Kendall, Dover, Argyle, and Kangaroo. The Patient Care, Deep Vein Thrombosis, and Nutritional Insufficiency business was integrated into the company’s medical division. George Barrett, chairman and CEO of Cardinal Health stated that this acquisition would provide their customers with “more product offerings and includes some well-established brands that fit naturally within our [Cardinal Health’s] portfolio and are complementary to our current medical products business.” Please note that Cardinal Health had conducted only one acquisition over the past year.
On November 6, 2017, Cardinal Health announced a series of leadership succession plans. Mike Kaufmann, who was Chief Financial Officer at the point of the announcement, was promoted to Chief Executive Officer, effective on January 1, 2018. He would succeed George Barrett, who had served as the company’s Chairman and Chief Executive Officer since 2009. Then Senior Vice President and Chief Financial Officer of Cardinal Health's Medical segment, Jorge Gomez replaced Kaufmann as the company’s Chief Financial Officer.
On November 14, 2017, Cardinal Health announced that it had sold its Cardinal Health China business to Shanghai Pharmaceuticals Holding Co., Ltd. for $1.2 billion. The deal included the company’s pharmaceutical and medical products distribution business in China but does not include the company’s other businesses in China such as its recently acquired Patient Recovery business, Cordis. This deal represented a major shift in Cardinal Health’s business strategy in China as it has been operating its pharmaceutical and medical products distribution business in China for the past seven years.
ANNUAL REVENUES FROM 2015 TO 2017
2016 revenue: $121,546,000,000 (Specialty Solutions division data not stated in 2016 annual report or other articles published online)
In conclusion, Cardinal Health’s leaders included Chief Executive Officer Mike Kaufmann and Chief Financial Officer Jorge M. Gomez. In July 2017, the company acquired Medtronic's Patient Care, Deep Vein Thrombosis, and Nutritional Insufficiency business for $6.1 billion. In 2017, Cardinal Health’s total revenue was $129.976 billion and its Specialty Solutions division generated revenue of $12 billion.