Adds over 750 providers to Cardinal Health’s multi-specialty MSO platform, The Specialty Alliance
Cardinal Health announced that The Specialty Alliance, its multi-specialty management services organization (MSO) platform, has entered into a definitive agreement to acquire Solaris Health, the country’s leading urology MSO, from Lee Equity Partners and Solaris Health physician owners.
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The transaction accelerates Cardinal Health’s multi-specialty growth strategy by extending the reach of The Specialty Alliance, led by CEO James Weber, MD. Taken together with the recent acquisitions of Urology America and Potomac Urology and the just-completed acquisition of Academic Urology & Urogynecology, the acquisition of Solaris Health brings immediate scale to the Urology Alliance within The Specialty Alliance.
Cardinal Health will provide approximately $1.9 billion in cash to The Specialty Alliance to enable the acquisition and will own approximately 75% of The Specialty Alliance after its acquisition of Solaris Health. Solaris Health physicians and several members of management will join GI Alliance physician owners and management as equity holders and operators in The Specialty Alliance.
Solaris Health supports more than 750 providers across more than 250 practice locations in 14 states, with extensive reach into the local communities they serve. Solaris Health’s resilient model and diverse revenue streams result from supporting a broad array of ancillary services, underpinned by a national MSO infrastructure.
“Accelerating Specialty growth remains our top priority,” said Jason Hollar, CEO, Cardinal Health. “As we previously highlighted, urology is an attractive specialty for us, and we are well-positioned to meet the comprehensive needs of community urologists through the robust combined capabilities of The Specialty Alliance, Specialty Networks and Cardinal Health.”
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“The formation of our Urology Alliance within The Specialty Alliance marks a significant step in expanding our multi-specialty model to meet patient needs across more communities,” said Dr. Weber. “As a physician, I know firsthand that integrated, coordinated care is critical to improving outcomes. 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. Together, we’re advancing a model that empowers physicians and prioritizes the highest standards of care.”
“Joining The Specialty Alliance’s Urology Alliance strengthens our ability to deliver exceptional, patient-centered care through a physician-led, national platform,” said Gary Kirsh, MD, CEO, Solaris Health. “This partnership expands our collaborative network of urology providers, allowing physicians to optimize care delivery and enhance patient access to specialized services in their local communities.”
Following the closing of the transaction, Dr. Kirsh will retire from his role leading Solaris Health and serve as a Senior Advisor to Cardinal Health.
“Lee Equity would like to thank Dr. Kirsh for his visionary leadership and congratulate him on building the leading platform in urology,” said Christian Chauvet, Partner, Lee Equity. “Dr. Kirsh has been a steadfast champion of independent medicine for his entire career, and we are proud to see Solaris Health and its exceptional physician base continue this legacy by joining the Urology Alliance.”
Cardinal Health expects the transaction to close by the end of calendar year 2025, subject to closing conditions, including the receipt of required physician and regulatory approvals. The transaction is expected to be slightly accretive to Cardinal Health’s non-GAAP earnings per share (EPS) in the first 12 months following close. Cardinal Health expects to include the expected impact to its fiscal year 2026 guidance after the acquisition is completed.
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Source- PR Newswire
