Cardinal Health announced that The Specialty Alliance, its multi-specialty management services organization (MSO) platform, has entered into a definitive agreement to acquire Solaris Health, a urology MSO, from Lee Equity Partners and Solaris Health physician owners.
The transaction accelerates Cardinal Health's multi-specialty growth strategy by extending the reach of The Specialty Alliance, led by CEO James Weber, MD.
Cardinal Health will provide approximately $1.9 billion in cash to The Specialty Alliance to enable the acquisition and will own approximately 75% of The Specialty Alliance after its acquisition of Solaris Health. Solaris Health physicians and several members of management will join GI Alliance physician owners and management as equity holders and operators in The Specialty Alliance.
Solaris Health supports more than 750 providers across more than 250 practice locations in 14 states, with extensive reach into the local communities they serve. Solaris Health's resilient model and diverse revenue streams result from supporting a broad array of ancillary services, underpinned by a national MSO infrastructure.
Following the closing of the transaction, Solaris CEO Dr. Gary Kirsh will retire from his role leading Solaris Health and serve as a senior advisor to Cardinal Health.
Cardinal Health expects the transaction to close by the end of calendar year 2025, subject to closing conditions, including the receipt of required physician and regulatory approvals.
