Davis Polk is advising Bank of America Merrill Lynch, as lead arranger and lead bookrunner of a $1.3 billion senior unsecured bridge facility for Cardinal Health, Inc. in connection with its proposed acquisition of AssuraMed, Inc.
Cardinal Health is a $108 billion health care services company and is ranked #21 on the Fortune 500. Cardinal Health provides pharmaceuticals and medical products to more than 60,000 locations each day. The company is also a leading manufacturer of medical and surgical products, including gloves, surgical apparel and fluid management products. In addition, the company supports the growing diagnostic industry by supplying medical products to clinical laboratories and operating the nation’s largest network of radiopharmacies that dispense products to aid in the early diagnosis and treatment of disease.
AssuraMed is a nationwide leader in medical supply distribution, both for home delivery and wholesale, for diabetes, ostomy, wound care, urological, incontinence, respiratory and other chronic conditions. Through its two segments, Edgepark Medical Supplies and Independence Medical, AssuraMed contracts directly with over 600 managed care organizations (MCOs) to provide direct-to-patient home delivery of products to hundreds of thousands of patients and serves as an outsourced supply chain for over 5,000 commercial customers, including durable medical equipment suppliers, independent pharmacies and wholesale distributors.
