Cardinal Health to acquire Integrated Oncology Network for $1.1B
Cardinal Health says the transaction is part of its effort to help community healthcare providers maintain their independence.
Photo: Morsa Images/Getty Images
Cardinal Health, which manufactures and distributes medical and laboratory products, has entered into a definitive agreement to acquire Integrated Oncology Network, a physician-led independent community oncology network, for more than $1.1 billion in cash.
ION includes more than 50 practice sites in 10 states representing more than 100 providers. Its continuum of care includes medical oncology, radiation oncology, urology, diagnostic testing and other ancillary services.
Cardinal Health said the transaction was part of its effort to help community healthcare providers maintain their independence.
WHAT'S THE IMPACT?
As part of the transaction, ION practices will become members of Navista, Cardinal Health's oncology practice alliance, and ION practice management and practice growth services will become part of Navista's advanced services and technology offering.
ION practices will also have access to Navista's advanced analytics capabilities, which leverage artificial intelligence, as well as expertise from Specialty Networks' PPS Analytics and SoNaR technology solutions.
ION's support services include revenue cycle management, payer relations, physician recruitment, practice marketing, finance, accounting, human resources and information technology.
Taken together with Navista offerings, such as its technology platform and value-based care and ancillary services, Cardinal Health expects ION will complement and expand its suite of clinical and practice management solutions, which are designed to support independent community oncology practices.
THE LARGER TREND
Cardinal Health's Pharmaceutical and Specialty Solutions segment operates one of the largest pharmaceutical supply chains in the U.S. Through its Specialty business, Cardinal Health provides distribution and advanced technology solutions to community-based practices across the country.
ON THE RECORD
"Driving growth in specialty continues to be a top priority, and we've made investments to expand our offerings through both Navista and our acquisition of Specialty Networks," said Jason Hollar, CEO of Cardinal Health. "With their proven model providing extensive support of community oncology across the cancer care continuum and healthcare ecosystem, we're confident Integrated Oncology Network will further accelerate our oncology strategy and enable us to create value for providers and patients."
"Integrated Oncology Network and Cardinal Health share a mission of helping community oncology practices deliver world-class patient care and a world-class patient experience to patients and families close to home," said Barry Tanner, CEO of Integrated Oncology Network. "This partnership will give community practices the tools and technology they need to enhance and grow that mission and make a positive impact on patient outcomes."
Jeff Lagasse is editor of Healthcare Finance News.
Email: jlagasse@himss.org
Healthcare Finance News is a HIMSS Media publication.
