Cardinal Health Technologies, LLC doing business as Cardinal Health,[2] is an American multinational health care services company, and the 15th highest revenue generating company in the United States. Headquartered in Dublin, Ohio, the company specializes in the distribution of pharmaceuticals and medical products, serving more than 100,000 locations. The company also manufactures medical and surgical product, including gloves, surgical apparel, and fluid management products. In addition, it operates one of the largest networks of radiopharmacies in the U.S.[3] Cardinal Health provides medical products to over 75 percent of hospitals in the United States.[4]
History
Founded in 1971 as Cardinal Foods by Robert D. Walter, the company was initially a food wholesaler.[5] After acquiring the Bailey Drug Company in 1979, it began whole selling drugs.[6] The company went public on the NASDAQ stock exchange in 1983.[6]
In 1988, Walter sold Cardinal Health's food operations to Roundy's.[6][7] From 1991 to 1996, the company's sales grew from $1.2 billion to $8.9 billion.[8] The company changed its name to Cardinal Health in 1994, and became the third-largest pharmaceutical wholesaler in the United States.[7][9]
2000–2019
R. Kerry Clark, a former executive and vice chairman at Procter & Gamble, was appointed president and CEO in April 2006, with Robert D. Walter retaining Chairmanship of the board.[10] In September 2008, the company announced Clark and Walter would retire and George S. Barrett would become the chairman and CEO.[11][12]
In 2009, Cardinal Health completed the spin-off of its clinical and medical products businesses into an independent medical technology company called CareFusion with David Schlotterbeck as CEO.[13][14] Cardinal Health is now traded on the
Controversy
Role in the Opioid epidemic
Multiple legal settlements have demonstrated Cardinal Health's role in the US Opioid epidemic, though the company never admitted wrongdoing:
- December 2016: Cardinal Health settled for $44 million for violations of the Controlled Substances Act brought in allegations from United States Attorneys in districts from Maryland, New York, Florida and Washington.[47]
- July 2021: Cardinal Health agreed to pay $6.4 billion to settle thousands of US lawsuits. They were one of four companies to pay $26 billion, including Johnson & Johnson, AmerisourceBergen and McKesson.[48][21]
- May 2022: Settled a derivative suit on behalf of shareholders for $124 million.[49]
Finances
Annual financial statistics are displayed below:[63]
Cardinal Health Foundation
The Cardinal Health Foundation is the charitable arm of Cardinal Health. The company makes annual product donations of over $9 million through international relief organizations and provides up to $1,000 in matching funds for every Cardinal Health employee that makes a charitable donation.[64] In 2008, the foundation established its E3 Grant Program.[65] Over the past seven years, the Foundation has invested more than $7.15 million in funding to 241 hospitals, health systems or other health-related organizations.[66]
Cardinal Health also supports organizations such as Ronald McDonald House Charities, and was named Benefactor of the Year at the 2011 Corporate Caring Awards.[64] In 2015, the foundation contributed $3 million to the Solutions for Patient Safety project, which has raised over $11 million nationally for efforts to improve safety initiatives in children's hospitals.[67]
External links
References
- FY 2025 Annual Report (Form 10-K) U.S. Securities and Exchange Commission, August 12, 2024, retrieved August 15, 2025^
- CARDINAL HEALTH - Trademark Details Justia Trademarks, retrieved February 24, 2026^
- Cardinal Health accused of fraudulent radiopharmaceutical contracting scheme