Cardinal Health plans to acquire Integrated Oncology Network for $1.12 billion in cash.
The transaction is subject to regulatory approval and expected to close later this year, a Cardinal spokesperson said.
Related: Cardinal Health names new CEO, plans price increases
As part of the deal, Nashville, Tennessee-based Integrated Oncology would join Cardinal's oncology practice alliance, Navista, and share resources for practice management services, analytics capabilities and artificial intelligence tools, according to a Friday news release.
Integrated Oncology has more than 50 practice sites in 10 states and represents more than 100 providers, offering medical oncology, radiation, diagnostic testing and other services.
Dublin, Ohio-headquartered Cardinal, a pharmaceutical distributor and medical product manufacturer, has about 48,000 employees operating facilities in more than 30 countries. In March, the company acquired multispecialty group purchasing organization Specialty Networks for $1.2 billion in cash.
The latest transaction would help further Cardinal's growth strategy in specialty drugs and support community oncology care, CEO Jason Hollar said in the release.
Hollar was not available for a follow-up interview Friday.
