Cardinal Health Sells MedSystems Business to Linden

DUBLIN, Ohio, Sept. 2 /PRNewswire-FirstCall/ -- Cardinal Health, a global
provider of products and services that improve the safety and productivity of
health care, today announced the completion of the sale of its MedSystems
business to Linden LLC, a healthcare and life sciences private equity firm.
Under the terms of the agreement, Linden acquired MedSystems, a maker of
enteral devices and surgical protection products, which joined Cardinal Health
through the acquisition of VIASYS Healthcare in 2007. The company has been
renamed Corpak MedSystems Inc. under Linden's ownership. Terms of the
agreement were not disclosed.
"Corpak MedSystems is an innovative and growing business, but it does not
fit into the core focus of our clinical and medical products businesses," said
Dave Schlotterbeck, vice chairman and chief executive officer of Clinical and
Medical Products for Cardinal Health. "Linden has the expertise and experience
to maximize value in mature health care businesses, and we believe MedSystems
will have great opportunities to grow outside of the Cardinal Health
portfolio."
Corpak MedSystems manufactures and globally markets a complete range of
value-added single use feeding delivery devices and systems primarily serving
the hospital ICU, NICU and PICU markets. Its products include CORFLO(R)
enteral feeding tubes, the CORTRAK(TM) feeding tube placement system, Farrell
Valve, and CORFLO(R) ANTI-IV Enteral Feeding safety connection products. In
addition, the company currently produces and markets smoke evacuation and
surgical protection products through its Stackhouse Division.
"Corpak MedSystems is an ideal investment for Linden because it is the
culmination of a long relationship with the business and Cardinal Health. It
exemplifies Linden's focus on partnering with corporations to provide growth
for their non-core divisions. It is a solid business that has historically
delivered consistent revenue and earnings growth and still has much more
potential for growth," said Eric C. Larson, Founder and Managing Partner of
Linden. "There are a number of opportunities to further strengthen the Corpak
MedSystems business by expanding the sales of the company's unique products
both in the U.S. and internationally. We will also pursue strategic
acquisitions and we are pleased that Tom Kuhn will once again lead the
business and drive its growth going forward."
Thomas I. Kuhn, a Linden Executive in Residence, previously served as
president of the Corpak MedSystems business for 15 years and has been
appointed CEO of the business under Linden's ownership.
"Linden's health care expertise and understanding of the business will
help us apply a much greater focus on Corpak MedSystems to grow the company,"
Kuhn said. "Corpak MedSystems has a strong and experienced management team and
we are delighted to be partnered with Linden to implement long-term strategic
growth initiatives as we remain dedicated to serving the needs of critically
ill patients."
Harris Williams & Co. acted as the exclusive adviser to Cardinal Health on
the transaction.
About Cardinal Health
Headquartered in Dublin, Ohio, Cardinal Health, Inc. (NYSE: CAH) is a $91
billion, global company serving the health care industry with products and
services that help hospitals, physician offices and pharmacies reduce costs,
improve safety, productivity and profitability, and deliver better care to
patients. With a focus on making supply chains more efficient, reducing
hospital-acquired infections and breaking the cycle of harmful medication
errors, Cardinal Health develops market-leading technologies, including
Alaris(R) IV pumps, Pyxis(R) automated dispensing systems, MedMined(TM)
electronic infection surveillance service, VIASYS(R) respiratory care products
and the CareFusion(TM) patient identification system. The company also
manufactures medical and surgical products and is one of the largest
distributors of pharmaceuticals and medical supplies worldwide. Ranked No. 19
on the Fortune 500, Cardinal Health employs more than 40,000 people on five
continents. More information about the company may be found at
www.cardinalhealth.com.
About Linden LLC
Linden is a Chicago-based private equity firm focused exclusively on
leveraged buyouts in the healthcare and life science industries. Linden's
strategy is based upon three key elements: i) healthcare and life science
industry specialization, ii) integration of transaction and operating
expertise, and iii) building strategic relationships with large corporations.
Linden's portfolio includes Drayer Physical Therapy Institute, BarrierSafe
Solutions International, Behavioral Centers of America, Focused Health
Solutions, Ranir, and Suture Express. For additional information, please
visit www.lindenllc.com
SOURCE Cardinal Health; Linden LLC

Media, Troy Kirkpatrick, +1-614-757-6225, troy.kirkpatrick@cardinalhealth.com,
or Investors, Jon Lyons, +1-614-757-3996, jon.lyons@cardinalhealth.com, both
of Cardinal Health; or Chris Tofalli of Linden, +1-914-834-4334,
chris@tofallipr.com