PR90909

DUBLIN, Ohio, Aug. 3, 2021 /PRNewswire=KYODO JBN/ --

Cardinal Health (NYSE: CAH) and Hellman & Friedman (H&F) announced today the

completion of the previously announced sale of Cardinal Health's Cordis

business to H&F. The sale price of approximately $1 billion includes the

buyer's assumption of certain liabilities and the seller's retention of certain

working capital accounts.

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"We appreciate H&F's partnership throughout the transaction, and we are excited

about Cordis's future under H&F's ownership," said Mike Kaufmann, CEO of

Cardinal Health. "As we shared previously, this divestiture demonstrates our

disciplined portfolio evaluation approach, and we remain committed to investing

in our strategic growth areas."

"We are thrilled to begin this next chapter for Cordis and value the

partnership with Cardinal Health through the transition," said Shar Matin, CEO

of Cordis. "We believe that an independent Cordis company, combined with an

innovative approach to bring differentiated products to market, will allow us

to create incremental value for teammates, customers and investors."

Cardinal Health plans to release its fourth-quarter and year-end financial

results for its fiscal year 2021 on August 5 prior to the opening of trading on

the New York Stock Exchange. The company will webcast a discussion of these

results beginning at 8:30 a.m. Eastern.

About Cardinal Health

Cardinal Health is a distributor of pharmaceuticals, a global manufacturer and

distributor of medical and laboratory products, and a provider of performance

and data solutions for health care facilities. With 50 years in business,

operations in more than 40 countries and approximately 48,000 employees

globally, Cardinal Health is essential to care. Information about Cardinal

Health is available at www.cardinalhealth.com.

About Hellman & Friedman

Hellman & Friedman is a preeminent global private equity firm with a

distinctive investment approach focused on large-scale equity investments in

high quality growth businesses. H&F seeks to partner with world-class

management teams where its deep sector expertise, long-term orientation and

collaborative partnership approach enable companies to flourish. H&F targets

outstanding businesses in select sectors including software & technology,

financial services, healthcare, consumer & retail, and other business services.

The firm is currently investing its tenth fund, with over $24 billion of

committed capital, and has over $80 billion in assets under management and

committed capital. Learn more about H&F's defining investment philosophy and

approach to sustainable outcomes at www.hf.com.

Contacts

Cardinal Health:

Media: Erich Timmerman, erich.timmerman@cardinalhealth.com and +1 (847)

887-1487.

Investors: Kevin Moran, kevin.moran@cardinalhealth.com and +1 (614) 757-7942.

H&F:

Media: Winnie Lerner, winnie.lerner@fgh.com and +1 (917) 375-5652.

Cautions concerning forward-looking statements

This release contains forward-looking statements addressing expectations,

prospects, estimates and other matters that are dependent upon future events or

developments. These statements may be identified by words such as "expect,"

"anticipate," "intend," "plan," "believe," "will," "should," "could," "would,"

"project," "continue," "likely," and similar expressions, and include

statements reflecting future results or guidance, statements of outlook and

various accruals and estimates. These matters are subject to risks and

uncertainties that could cause actual results to differ materially from those

projected, anticipated or implied. Cardinal Health is subject to additional

risks and uncertainties described in Cardinal Health's Form 10-K, Form 10-Q and

Form 8-K reports and exhibits to those reports. This release reflects

management's views as of August 2, 2021. Except to the extent required by

applicable law, Cardinal Health undertakes no obligation to update or revise

any forward-looking statement.

SOURCE: Cardinal Health