Cardinal Reports a Challenging Quarter and Announces a Change in Management
Near-term issues have pressured Cardinal’s operating environment, and the firm reported a challenging fiscal first quarter as a result. However, these headwinds have been expected and don't deviate from our near-term outlook. The firm also announced that its CEO of 10 years, George Barrett, will step down at the end of year and hand the reins over to Mike Kaufmann, Cardinal’s current CFO. We believe the firm’s recent struggles and a shifting healthcare market may have motivated this move. We bel...Cardinal Health is a healthcare services and products company providing customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories and physician offices. The company's segments include: Pharmaceutical and Medical. The company's Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical and over-the-counter healthcare and consumer products in the United States. The company's Medical segment manufactures, sources and distributes Cardinal Health branded medical, surgical and laboratory products, which are sold in the United States, Canada, Europe, Asia and other markets.
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