Cardinal Health to buy generics distributor Harvard Drug Group

Cardinal Health Inc. announced today it would buy Harvard Drug Group from Court Square Capital Partners for about $1.12 billion in a move that would boost Cardinal’s generic and over-the-counter medicine-distribution businesses.

According to the Wall Street Journal, Cardinal Health, a drug wholesaler and manufacturer of gloves and surgial apparel, is working to expand its portfolio of medical products as hospitals merge and consolidate.

In 2014, Harvard Drug Group posted revenue of $450 million.

Read more from the Wall Street Journal.