Cardinal Health To Merge Outcomes Business To Transaction Data Systems
(RTTNews) - Cardinal Health, Inc. (CAH) announced Monday it has signed a definitive agreement to merge its Outcomes business to Transaction Data Systems (TDS), a portfolio company of BlackRock Long Term Private Capital and GTCR, in exchange for a minority stake in the combined entity.
The combined organization will expand upon TDS's existing solutions for delivering clinical care, medication therapy management and diversifying pharmacy revenue streams by adding Outcomes' digital capabilities for patient engagement, virtual verification, order grouping, pill counting, and financial insights.
The transaction will create a broad, integrated offering of pharmacy workflow software with patient engagement and clinical solutions to serve the patient, pharmacy, payer, and pharmaceutical company ecosystem.
Under the terms of the agreement, Cardinal Health's pharmaceutical segment CEO, Debbie Weitzman, will be appointed to the TDS board of directors.
Together, TDS and Outcomes will create additional opportunities for pharmacists to participate in sponsored clinical interventions and better access for payors and pharmaceutical companies to drive better care and outcomes for patients.
The transaction is anticipated to close, subject to customary closing conditions and the expiration or termination of regulatory periods, in the third calendar quarter of 2023.
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