Allegiance joins with Cardinal to form $21 billion company
This article was originally published in Clinica
Allegiance and US pharmaceutical service company Cardinal Health have agreed to merge in a $5.4 billion transaction, including the assumption of around $890 million of debt. The deal will result in a healthcare products and services company with annual revenues of $21 billion and a sales and support staff of over 2,500. The new company will be called Cardinal Health - Allegiance will operate as a wholly-owned subsidiary and will retain its management and name.