Cardinal Health on Tuesday signed a definitive agreement to divest its Cardinal Health China business to Shanghai Pharmaceuticals Holding Co. for $1.2 billion.
Here are three things to know.
1. The deal involves Cardinal Health's drug and medical products distribution business in China, but does not apply to the company's remaining businesses in the country.
2. Eric Zwisler, chairman of Cardinal Health China, will also retire, effective immediately, as part of the transaction.
3. Cardinal Health expects the transaction to close by the end of its fiscal year.
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