Linden Capital Partners has announced it will sell Specialty Networks to Cardinal Health for $1.2 billion in cash.
Specialty Networks, founded in 2018 and based in Cleveland, is an integrated, multi-specialty organization with group purchasing organizations, life sciences and research solutions in urology, gastroenterology and rheumatology.
Linden, based in Chicago, is a private equity firm focused exclusively on the healthcare industry. Founded in 2004, the firm pursues acquisition opportunities across the healthcare industry, including services, products and distribution companies, and prefers to make more substantial investments from a dollars perspective.
Cardinal Health (NYSE: CAH) is a distributor of pharmaceuticals, a global manufacturer and distributor of medical and laboratory products, and a provider of performance and data solutions for healthcare facilities.
The acquisition is subject to customary closing conditions.