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June 07, 2004 02:00 AM

Cardinal Health to buy Alaris Medical

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    DUBLIN, Ohio (June 7)—Cardinal Health Inc. has made a tender offer to acquire the outstanding shares of Alaris Medical Systems Inc.'s common stock in a deal valued at about $2 billion.

    The transaction, agreed to by both firms but subject to obtaining regulatory approval, calls for Cardinal Health to pay $22.35 for each share, a Cardinal Health spokeswoman said. The acquisition price includes the assumption of Alaris' outstanding debt.

    Once the deal is finalized, the purchase will expand Cardinal Health's product and service portfolio to health care providers, and increase its presence in key markets outside the U.S., the company said.

    Alaris makes numerous products—including a number that are elastomer-based—such as large-volume pumps and syringe infusion pumps, ambulatory infusion pumps and disposable administration sets, which contain needle-free devices. Alaris will become a wholly owned subsidiary of Cardinal Health.

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