Cardinal Health to Acquire Integrated Oncology Network for $1.1 Billion

Ropes & Gray advised Cardinal Health in an agreement to acquire Integrated Oncology Network (ION), an independent community oncology network, for $1.115 billion in cash. The transaction announced on September 20 will integrate ION's more than 50 practice sites and over 100 providers across 10 states into Cardinal Health's network. ION supports care across its member sites including medical oncology, radiation oncology, urology, diagnostic testing and other ancillary services.

The Cardinal Health acquisition is a move to invest in specialty and oncology services and reinforces its commitment to supporting the independence of community healthcare providers. With the inclusion of ION, Cardinal Health aims to accelerate the growth of its Navista oncology practice alliance, which offers advanced analytics and artificial intelligence technology solutions to its members.

Cardinal Health's Pharmaceutical and Specialty Solutions segment is one of the largest pharmaceutical supply chains in the U.S., and through its Specialty business, it provides distribution and technology solutions to community-based practices nationwide.

The Ropes & Gray team included life sciences partner Michael Beauvais and associate Bryan Lowrance, health care partner Michael Lampert, antitrust partner Jane Willis, labor and employment partner Doug Brayley, employment and benefits partner and Joshua Lichtenstein, IP transactions partner Jordan Altman, data, privacy & cybersecurity partner Fran Faircloth, tax partner Pam Glazier, real estate investments and transactions partner David Kaye, litigation & enforcement counsel Steve Kaye, employment, executive compensation and benefits counsel Christa Sanchez and principal Harvey Cotton.