Cardinal Health Inc. reported 23% revenue growth in its latest quarter, driven by its pharmaceutical segment, as the company’s top and bottom lines beat analysts’ expectations.
Cardinal, a drug wholesaler that also makes gloves and surgical apparel, is working to expand its portfolio of medical products as hospitals merge. It provides resources to more than three-quarters of U.S. hospitals.
The Dublin, Ohio, company completed a $1.94 billion acquisition of the Cordis heart-product business from Johnson & Johnson in October, adding stents and catheters to the list of products Cardinal offers. In July, Cardinal bought Harvard Drug Group for roughly $1.12 billion, a deal that broadens its offerings of generic and over-the-counter medications.