04:43 AM EST, 11/12/2024 (MT Newswires) -- Cardinal Health ( CAH ) said late Monday it has agreed to acquire a 71% stake in GI Alliance for about $2.8 billion, as well as acquire Advanced Diabetes Supply Group for $1.1 billion.

The company will acquire a majority stake in GI Alliance from a combination fo GI Alliance physicians and funds managed by affiliates of Apollo (APO).

Cardinal Health ( CAH ) expects both acquisitions to close early next year. GI Alliance will operate as a platform within the company's Pharmaceutical and Specialty Solutions segment, while Advanced Diabetes Supply Group will merge with its at-Home Solutions business.

The transactions are expected to be accretive to the company's earnings in the first 12 months following close.

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