Cardinal Health announced Tuesday that it will purchase Solaris Health, one of the nation’s top urology providers, from Lee Equity Partners and Solaris’ physician owners in a blockbuster $1.9 billion deal—an acquisition navigated by three powerhouse law firms.
The transaction, executed through The Specialty Alliance, Cardinal’s multi-specialty management services organization (MSO), will extend the Ohio-based company’s specialty care footprint across the United States. Skadden Arps Slate Meagher & Flom LLP and Katten Muchin Rosenman LLP are advising Cardinal Health, while McDermott Will & Emery is representing Solaris Health.
Building a Specialty Care Empire
Cardinal Health said the acquisition is a key step in expanding The Specialty Alliance, which debuted earlier this year under the leadership of CEO Dr. James Weber. “By bringing Solaris Health’s leading urology network into our platform, we’re helping specialty providers focus more of their time and energy where it matters most—on their patients,” Weber said.
The $1.9 billion cash infusion will give Cardinal Health approximately 75% ownership of The Specialty Alliance post-closing. The deal follows a string of targeted moves, including the creation of the Urology Alliance and recent acquisitions of Urology America, Potomac Urology, and Academic Urology & Urogynecology.
