DUBLIN, Ohio, October 18, 2006 -- Cardinal Health, the leading provider of products and services supporting the health-care industry, today announced plans to acquire Care Fusion, Inc., an industry leader in wireless, barcode-enabled patient identification systems used in hospitals.
By using Care Fusion’s bedside technology, clinicians can scan a barcode on a patient’s wristband to verify they have the correct person for medication and blood administration, lab testing or other clinical supplies and medical procedures. The scanner receives and transmits data wirelessly to a Care Fusion computer system that is integrated into the hospital’s existing network to ensure the clinician and the electronic medical record system have the most up-to-date physician orders and information about the patient and status of the care process.
The acquisition will expand Cardinal Health’s comprehensive patient safety and medication management approach that helps hospitals track and verify all medications – oral, intravenous (IV) and injectable – from the moment they arrive at the loading dock to the point they are administered to the patient. More specifically, Care Fusion’s offering will strengthen Cardinal Health’s comprehensive safety solutions through the point of care with patient verification at the bedside.
“By reducing the complexity of the medication and supply management process we help our customers improve patient safety,” said Dwight Winstead, group president of Clinical Technologies and Services for Cardinal Health. “With the addition of Care Fusion’s wireless patient identification technology, Cardinal Health can now track all forms of medicine from the moment they arrive at the hospital until they are administered to patients. The acquisition also bolsters our health-care solutions and furthers our strategy to capture data as a byproduct of care.”
Care Fusion also improves patient safety within a hospital by verifying patient identification for procedures beyond medication management. A modular array of applications unlock the power of barcode scanning to positively identify patients and ensure the accuracy of medication administration as well as specimen collection, blood transfusions, patient charting and viewing, and charge capture – all accessible from one highly portable handheld or tablet device, or other connected desktop computers.
“Care Fusion’s patient identification technology provides a last line of defense against medical errors at the most critical point – the patient,” said John Milligan, co-founder, president and chief operating officer of Care Fusion. “Cardinal Health’s leadership in medication management, combined with Care Fusion’s expertise in bedside verification creates a powerful combination to reassure clinicians are giving the right dose of the right medication to the right patient at the right time.”
Care Fusion products are currently used in approximately 50 hospitals in 20 states. In addition, earlier this year, the Veterans Health Administration (VA) announced that Care Fusion hand-held devices will be implemented at all inpatient and outpatient facilities system-wide, which includes 171 medical centers and 500 outpatient clinics, with at least one facility in each state, Puerto Rico and the District of Columbia.
The acquisition is expected to close by the end of October. Financial terms of the deal were not disclosed. Care Fusion was advised by Houlihan Lokey Howard & Zukin.
About Cardinal Health
Headquartered in Dublin, Ohio, Cardinal Health, Inc. (NYSE: CAH) is an $81 billion, global company serving the health-care industry with a broad portfolio of products and services. Through its diverse offerings, Cardinal Health delivers health-care solutions that help customers reduce their costs, improve safety and productivity, and deliver better care to patients. The company manufactures, packages and distributes pharmaceuticals and medical supplies, offers a range of clinical services and develops automation products that improve the management and delivery of supplies and medication for hospitals, physician offices and pharmacies. Ranked No. 19 on the Fortune 500, Cardinal Health employs more than 55,000 people on six continents. More information about the company may be found at www.cardinalhealth.com
About Care Fusion
Care Fusion, Inc. (www.carefusion.com
) develops and delivers a modular array of interoperable, enterprise level applications that unlock the power of barcode scanning to positively identify patients and ensure the accuracy of medication administration, specimen collection and labeling, blood transfusions, patient charting and viewing, and charge capture, all accessible from one highly portable handheld or laptop device. Care Fusion offers a suite of barcode enabled positive patient identification products that include: wCareMed™ to support medication administration, allergy warnings, safety alerts and complex IVs; wCareCollect™ to verify and label lab specimens; wBloodCare™ to verify blood products prior to transfusion; wCareAssist™ to record vital signs and patient care information; wCareView™ for a consolidated view of patient data; and wCareCapture™ for point of care billing of supplies.
Except for historical information, all other information in this news release consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. The most significant of these uncertainties are described in Cardinal Health's Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports) and exhibits to those reports, and include (but are not limited to) the following: competitive pressures; the loss of one or more key customer or supplier relationships or changes to the terms of those relationships; changes in the distribution patterns or reimbursement rates for health-care products and/or services; the results, consequences, effects or timing of any inquiry or investigation by or settlement discussions with any regulatory authority or any legal and administrative proceedings; costs and effects of shareholder litigation and other legal proceedings; difficulties in opening new facilities or fully utilizing existing capacity; the costs, difficulties and uncertainties related the integration of acquired businesses; and general economic and market conditions. Except to the limited extent required by applicable law, Cardinal Health undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Except to the limited extent required by applicable law, Cardinal Health undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.