Cardinal Health awarded Strategic National Stockpile contract for PPE storage and distribution
On April 13, 2021, Cardinal Health (NYSE: CAH) announced it secured a $57.8 million contract with the U.S. Department of Health and Human Services for the storage and distribution of 80,000 pallets of personal protective equipment (PPE).
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Rhea-AI Summary
On April 13, 2021, Cardinal Health (NYSE: CAH) announced it secured a $57.8 million contract with the U.S. Department of Health and Human Services for the storage and distribution of 80,000 pallets of personal protective equipment (PPE). This contract has the potential to reach $91.6 million if all options are exercised. Cardinal Health's extensive distribution network will enable rapid delivery of PPE to healthcare providers across the U.S. in response to ongoing public health emergencies, including the COVID-19 pandemic.
Positive
- Awarded a $57.8 million contract for PPE storage and distribution.
- Potential to increase contract value to $91.6 million.
- Ability to leverage a vast distribution network for quick deployment of PPE.
Negative
- None.
Details
News Market Reaction – CAH
The recorded move for CAH in the trading session of this news was -1.18%.
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AI-generated analysis. How Rhea-AI works. Not financial advice.
DUBLIN, Ohio, April 13, 2021 /PRNewswire/ -- Cardinal Health (NYSE: CAH) was awarded a
"Cardinal Health is uniquely positioned to get critical products to healthcare providers and first responders as effectively, safely, and swiftly as possible in response to the COVID-19 pandemic," said Steve Mason, CEO Medical Segment. "Cardinal Health is proud to help the country by providing this critical pandemic support in partnership with the U.S. government."
With its expansive distribution network, Cardinal Health can provide rapid deployment and delivery of SNS product throughout the U.S. and its territories, as directed by the U.S. government, to assist with critical PPE needs in response to the COVID-19 pandemic as well as other national or localized public health emergencies. PPE product within the SNS, to be stored across U.S. Cardinal Health medical facilities, includes inventory from multiple manufacturers/vendors under contract with the U.S. Government that is provided to multiple sources and care institutions.
About Cardinal Health
Cardinal Health is a distributor of pharmaceuticals, a global manufacturer and distributor of medical and laboratory products, and a provider of performance and data solutions for healthcare facilities. With 50 years in business, operations in more than 40 countries and approximately 48,000 employees globally, Cardinal Health is essential to care. Information about Cardinal Health is available at cardinalhealth.com.
Contacts
Media: Erich Timmerman, erich.timmerman@cardinalhealth.com and (847) 887-1487; Investors: Kevin Moran, kevin.moran@cardinalhealth.com and (614) 757-7942.
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SOURCE Cardinal Health
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