Stikeman Guides Cardinal Health's $162M Futuremed Buy

Law360, New York (October 25, 2011, 11:04 PM EDT) -- A Canadian subsidiary of health care giant Cardinal Health Inc. has agreed to spend CA$165 million ($162.7 million) to acquire Futuremed Healthcare Products Corp., which provides furniture and other supplies for long-term care facilities, the companies said Tuesday.

Cardinal Health Canada Inc. will purchase all of the outstanding shares of Futuremed for $8.02 per share (CA$8.15). The transaction is expected to close by March 2012.

David Lees, president and CEO of Cardinal Health Canada, said the deal will enable the company to give its patients greater...
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