Welcome to our dedicated page for Cardinal Health news (Ticker: CAH), a resource for investors and traders seeking the latest updates and insights on Cardinal Health stock.
Cardinal Health, Inc. distributes pharmaceuticals and specialty products and manufactures and distributes medical, laboratory, home-health and direct-to-patient products and services. The company also operates nuclear pharmacies and manufacturing facilities and provides performance and data solutions for healthcare customers.
Recurring company updates cover financial results and fiscal outlooks, dividend actions, share repurchases, debt activity, segment performance in Global Medical Products and Distribution, at-Home Solutions, Nuclear and Precision Health Solutions and OptiFreight Logistics. Other developments include biosimilars and advanced-therapy research reports, Actinium-225 production capacity for radiopharmaceutical applications, and board governance changes.
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Cardinal Health (NYSE: CAH) has launched the innovative Stray Away™ hair management drape, aimed at improving surgical preparation for craniofacial and neurosurgical procedures. This first-of-its-kind product, developed in collaboration with MedStar Health, minimizes hair interference during surgery, enhancing patient experience and operational efficiency. The drape features three unique anchoring points and is designed to secure hair safely while maintaining sterility. The initiative reflects a commitment to addressing patient needs and streamlining surgical processes. Kelley Moffett from Cardinal Health emphasized the solution’s potential to save time for surgical teams, while Marck-Arthur Clerveau of MedStar Health lauded the collaboration as a significant advancement in medical technology.
On April 17, 2023, Cardinal Health (NYSE: CAH) announced the opening of two new distribution centers in Central Ohio, marking a significant investment in its Medical Segment. These facilities, located in Groveport and Grove City, span over 782,000 square feet and are designed to support the company's U.S. Medical Products and Distribution (USMPD) and at-Home Solutions businesses. This expansion is part of Cardinal Health's multi-year warehousing modernization plan, aimed at improving service and creating jobs in the local economy. Equipped with advanced warehousing management technology, including robotics and automated fulfillment systems, the centers will enhance operational efficiency while bolstering the company's distribution network.
Cardinal Health (NYSE: CAH) will announce its third-quarter financial results for fiscal year 2023 on May 4, prior to market opening. An accompanying webcast discussing these results is scheduled for 8:30 a.m. Eastern. The company, a global distributor of pharmaceuticals and medical products, operates in over 30 countries with approximately 46,500 employees. It has a robust online platform for investor relations where the webcast and presentation slides will be available for 12 months.
Swisslog announced that Cardinal Health (NYSE: CAH) will implement its AutoStore solution at a new distribution center in Grove City, Ohio. This initiative aims to boost warehouse capacity amid rapid growth in Cardinal Health's at-Home Solutions division. The AutoStore system features 31,844 storage bins, enabling efficient management of 14,154 SKUs, ultimately enhancing speed and reducing human error in order fulfillment. This marks Cardinal Health's first use of AutoStore, reflecting a commitment to modernizing operations and addressing labor shortages. The collaboration emphasizes optimizing supply chain resilience and enhancing customer service.
On March 6, 2023, Cardinal Health (NYSE:CAH) announced a collaboration with Signify Health (NYSE:SGFY) to provide in-home clinical and medication management services via its Outcomes™ business. This initiative aims to reduce healthcare costs and address medication adherence issues for over 2.3 million members across the nation. Leveraging Signify Health's network of 11,000+ clinicians and the OutcomesOne™ platform, the service intends to enhance coordinated care, focusing initially on Medicare Advantage members. The collaboration may expand to additional services, such as population health programs.
Cardinal Health (NYSE: CAH) published its 2023 Biosimilars Report on February 22, 2023, which examines provider perceptions and trends in the biosimilars market. The report shows a significant increase in familiarity with biosimilars, particularly among rheumatologists (76%) and gastroenterologists (81%). It highlights the potential for up to 10 new Humira™ biosimilars launching in 2023, and discusses the impact of the Inflation Reduction Act and the Enhancing Oncology Model on market growth. The report aims to address challenges and opportunities in the adoption of biosimilars, ensuring equitable access to essential treatments.
Cardinal Health (NYSE: CAH) announced a quarterly dividend of $0.4957 per share, reflecting its commitment to returning value to shareholders. This dividend, payable on April 15, 2023, is for shareholders on record by April 3, 2023. The company, a major player in healthcare services with 50 years in the industry and operations in over 30 countries, continues to demonstrate financial stability and shareholder confidence through regular dividend payments.