Cardinal Health is pursuing two tuck-in acquisitions to expand its home care business.
The pharmaceuticals and specialty products distributor announced on Monday it had agreed to buy AdaptHealth Corp's diabetes health business unit and medical supply provider Strive Medical in separate deals worth $360 million.
The deals will accelerate Cardinal Health's at-home solutions' growth strategy, the company said.
"These strategic transactions build on the synergies created by our recent investments in home care," Jason Hollar, Cardinal Health's chief executive officer, said in a statement. "As a natural extension of our at-Home Solutions growth strategy, they expand our enterprise-wide depth and breadth across important therapeutic categories like diabetes management and urology, further strengthening our leadership in a highly dynamic industry."
The transactions are subject to the satisfaction of customary closing conditions, including receipt of required regulatory approvals.
The addition of AdaptHealth's diabetes health business builds on Cardinal Health's acquisition of Advanced Diabetes Supply Group, a national direct-to-patient diabetes medical supplies company, for $1.1 billion in April 2025. In the past year, the company has focused on integrating the ADS business, migrating all the supplier's volume onto its at-home solutions tech-enabled distribution network, the company said in a press release. It also onboarded nearly 500,000 new customers and launched ContinuCare Pathway, a pharmacy-to-supplier digital referral pathway program.
"Our significant operational achievements in FY26 position us to continue building the country's leading platform to deliver simplified, innovative and high-quality care in the home, both organically and through acquisition," said Rob Schlissberg, president of Cardinal Health at-Home Solutions, in a statement.
AdaptHealth is a network of full-service medical equipment companies. Its diabetes health business serves more than 225,000 people annually and operates primarily as a centralized, mail-order, direct-to-patient model that delivers supplies like continuous glucose monitors to support the ongoing management of diabetes.
AdaptHealth said it was selling its diabetes health business to Cardinal Health for $235 million in cash. The divestiture continues the company's multi-year effort to focus its portfolio on its core sleep, respiratory and supporting home medical equipment businesses, executives said in a press release.
Strive Medical serves more than 20,000 people annually as an independent home medical supply provider specializing in urology, wound care, ostomy and incontinence supplies. Cardinal Health says the addition of Strive Medical expands the company's "enterprise-wide capabilities in this critical therapeutic area."
The deal also builds on Cardinal's recent moves to advance its urology focus following its $1.9 billion buyout of Solaris Health in August 2025, along with other recent deals, including the acquisitions of Urology America, Potomac Urology and Academic Urology & Urogynecology. Those deals are part of Cardinal's strategy to strengthen its multispecialty management services organization platform.
Cardinal Health also has made moves into oncology with its acquisition of Integrated Oncology Network, a collection of more than 50 community oncology centers, for just over $1.1 billion. That deal was finalized in December 2024.
As part of an overall strategy to grow its footprint in specialty medicine, the company also announced in late 2024 plans to buy a majority stake in GI Alliance, a gastroenterology management services organization, for approximately $2.8 billion in cash.