Cardinal Inks Deal to Sell Contract Manufacturing Unit

Bryner, Michelle
February 2007
Chemical Week;2/7/2007, Vol. 169 Issue 5, p31
Trade Publication
The article reports that Cardinal Health has signed a definitive agreement to sell most of its pharmaceutical technologies and services (PTS) contract manufacturing business to private equity firm The Blackstone Group. The divestment is expected to generate $3.1 billion in after-tax proceeds. Cardinal Health says it will retain two of the PTS business segments that support the generic drugs market. PTS generates revenues of approximately $1.8 billion/year, and operates 30 facilities worldwide.


Related Articles

  • Cardinal completes $3.3 billion PTS asset sale.  // Medical Technology & Devices Week;4/16/2007, Vol. 5 Issue 16, p4 

    The article reports on the sale of the Pharmaceutical Technologies and Services (PTS) unit to the Blackstone Group by Cardinal Health, a provider of products and services in Dublin, Ohio. The deal will allow Cardinal to focus resources on its remaining segments serving healthcare provider...

  • Cardinal to sell pharma unit. Becker, Cinda // Modern Healthcare;1/29/2007, Vol. 37 Issue 5, p17 

    The article reports on the plan of Dublin, Ohio-based Cardinal Health to sell its pharmaceutical technologies and service business to Blackstone Group. According to Cardinal, the net proceeds from the sale will be used to repurchase shares. Moody's Investors Service intends to affirm Cardinal's...

  • Cardinal Health sells pharmaceutical services unit. Page, Leigh // Materials Management in Health Care;Mar2007, Vol. 16 Issue 3, p50 

    The article reports on the sale of drug manufacturing unit, Pharmaceutical Technologies and Services (PTS), by Cardinal Health, to Blackstone Group Inc., a private equity group in the U.S. PTS provides several pharmaceutical companies with products including softgel capsules, controlled release...

  • Cendant sells Travelport.  // BRW;7/6/2006, Vol. 28 Issue 26, p73 

    The article reports on the sale of the Travelport unit by Cendant Corp., a travel and real estate conglomerate, to Blackstone Group Inc. at a cost of $4.3 billion.

  • Cardinal Plans To Sell Large Unit. J. R. C. // Mergers & Acquisitions Report;12/11/2006, Vol. 19 Issue 47, p5 

    This article reports on the plan of Cardinal Health Inc. to sell its Pharmaceutical Technologies and Services (PTS) unit. The unit contributes to a little over 10% of the company's revenue. Cardinal Health will keep the Martindale and Beckloff Associates operations within PTS. Chief Financial...

  • Payments-Firm Buyout Trend Adds Alliance Data. Breitkopf, David // American Banker;5/18/2007, Vol. 172 Issue 96, p7 

    The article reports on the sale of the Alliance Data Systems Corporation during 2007. The issuer of specialty credit cards for retailers has announced that it has been acquired by private equity firm Blackstone Group. Alliance's clients include retail chains J. Crew, Crate & Barrel, and Ann...

  • Morgan Stanley to take charge of ING REIM sale. Phillips, Mike // EG: Estates Gazette;5/29/2010, Issue 1021, p39 

    The article reports that Morgan Stanley has been chosen to manage the sale of ING Real Estate Investment Management (REIM), the world's biggest property fund manager in June 2010. Giant fund managers Blackstone and Blackrock are among the companies that show interest in bidding for the business....

  • Blackstone wins €1bn DB portfolio.  // EuroProperty;2003, p3 

    Blackstone Group Inc. has been picked as the successful bidder for the largest pan-European corporate property sale. Blackstone paid Deutsche Bank AG €1bn for a portfolio of 51 bank branches and offices in nine jurisdictions including Germany, Spain, Belgium, Italy and Portugal. Two thirds...

  • Dow Ag Division Sale Rumored as R&H Trial Nears. Sissell, Kara // Chemical Week;3/9/2009, Vol. 171 Issue 7, p8 

    The article reports on rumors that Dow Chemical is selling part of Dow AgroSciences. The former was said to have been communicating with private equity firms regarding the sale, including Blackstone Group and Kohlberg Kravis Roberts & Co. On the other hand, the company has not ruled out any...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics