The company anticipates that the transaction will be neutral to slightly accretive to its fiscal 2011 adjusted earnings, contingent upon the time of the deal closure. Cardinal projects accretion of not less than 12 cents in adjusted earning per share from continuing operations in fiscal 2012, after taking into account the effect of amortization of intangibles.   

Kinray is one of the largest privately held distributors of generic, pharmaceutical and various home health care products. It had annual revenue of over $3.5 billion. The company serves over 2,000 independent retail pharmacy customers as a distributor of both generic and branded pharmaceutical products.

Cardinal Health continues to be one of the largest distributors of pharmaceuticals and medical supplies in the U.S. with a diversified product portfolio. The company offers a good example of how distributors are positioning themselves through acquisitions, divestments and internal development initiatives to increase their value proposition for providers.