Cardinal Health

1971: LBO Presages Transformation of Mid-Ohio Distributor Under the direction of Robert Walter, the company has evolved from a rather inconsequential Ohio food distributor into a trend-setting member of the pharmaceutical industry. Founded as Cardinal Foods by Robert D. Walter, the company was initially a food wholesaler.

1975: The company made its first foray into pharmaceutical distribution when it acquired Zanesville Distribution.

1979: In less than a decade, the then-named Cardinal Foods became a prominent regional food distributor until branching into pharmaceutical distribution. After acquiring the Bailey Drug Company, it began whole selling drugs.

1980: The company made its first foray into pharmaceutical distribution, when it acquired a drug distributor in Zanesville, Ohio, 60 miles from Columbus, and became known as Cardinal Distribution.

1983: Walter used the proceeds of the initial public offering to launch an acquisition spree that would gain steam over the next decade. The company went public on the NASDAQ stock exchange.

1987: A year before selling its food distribution segment, Cardinal Health’s pharmaceutical distribution business had become nearly twice the size of its food distribution business.

1988: Walter sells food groups to Roundy's Inc. Walter sold Cardinal Health's food operations to Roundy's.

1991: Cardinal's revenues exceed $1 billion.

1993: Purchase or perish was the theme in the market that was dominated by seven major companies which monopolized 78 percent of the industry's estimated $40 billion in sales. By the end of the year, the company was ready to turn westward, but its rapid growth had caught the attention of well-established industry leaders McKesson Corp. and Bergen Brunswig Corp. A 48-year-old Robert Walter appeared to be paving the way for his retirement when he hired Abbott Labs' John Kane as president and chief operating officer.

1994: The company signed a $900 million contract to supply mass merchandiser Kmart's nearly 1,700 pharmacies. Cardinal acquired Whitmore Distribution and Medical Strategies; the company name changed to Cardinal Health. The company became the third-largest pharmaceutical wholesaler in the United States.

1996: According to Forbes magazine's analysis of United States companies' 10-year total return, Cardinal ranked 25th. Cardinal Health acquired Pyxis Corporation, a company that developed automated pill dispensers for hospitals, for $867 million.

1997: Actelion profile and corporate video Actelion is a pharmaceuticals and biotechnology company established in December, headquartered in Allschwil near Basel, Switzerland. Cardinal acquired Owen Healthcare, of Houston, Texas, a leading provider of pharmacy management and information services for hospitals. Cardinal Health planned to purchase Bergen Brunswig Corp., to which McKesson Corporation responded with a bid to purchase Amerisource.

1998: FTC blocks Cardinal's purchase of Burgen Brunswig; Cardinal acquires R.P. Scherer.

1999: The company acquired Allegiance Healthcare, a Chicago-based medical products distributor.

2000: Acquisitions included Rexam Cartons, Inc.; Enhanced Derm Technologies, Inc.; ENDOlap, Inc.; Ni-Med kit manufacturing; CurranCare, LLC; VegiCaps Division (from American Home Products Corporation); and a manufacturing facility in Humacao, Puerto Rico.

2001: In January, Cardinal celebrated its 30th anniversary and began another banner year in financial records and value to customers.

2002: Cardinal is ranked #23 on the current Fortune 50 list and was named one of "The World's Best" companies by Forbes magazines.

2006: R. Kerry Clark, a former executive and vice chairman at Procter & Gamble was appointed president and CEO in April, with Robert D. Walter retaining the Chairmanship of the board. Cardinal Health purchased Niagara Falls-based ParMed Pharmaceuticals for $40.1 million.

2007: In June, the firm announced the completion of a tender offer for VIASYS Healthcare.

2008: In September, the company announced Clark and Walter would retire and George S. Barrett would become the chairman and CEO.

2010: In June, Cardinal Health announced plans to purchase Healthcare Solutions Holding, a speciality pharmaceutical services company, for $517 million. In December, the company acquired Kinray, an independent pharmaceutical wholesaler, increasing Cardinal Health's presence in the independent pharmacy market by 40 percent.

2013: In December, it was announced that Cardinal Health would partner with CVS Caremark to form a generic drug-sourcing operation in the United States.

2014: The venture was named Red Oak Sourcing and began operations. In July, Cardinal Health and CVS formed Red Oak Sourcing, the largest generic drug-sourcing operation in the United States.

2015: The acquisition was completed on October 4.

2017: The acquisition was completed on July 30. Cardinal sold Yong Yu to Shanghai Pharmaceuticals Holding Co.

2018: In January, Michael Kaufmann assumed the role of CEO after serving as CFO of the company.

2021: Cardinal sold the division in August to Hellman & Friedman, a private equity firm, for $1 billion.