“CD&R’s understanding of naviHealth’s business, and their relationships with current and potential customers, will help provide additional value to patients, health systems, and health plans while also allowing Cardinal Health to benefit from future success.” naviHealth’s leadership team, clinical expertise, and proprietary clinical decision support technology are key differentiators in a rapidly growing sector of the healthcare industry,” said Mike Kaufmann, chief executive officer at Cardinal Health. “This new investment structure provides naviHealth with the resources needed to support and accelerate its growth trajectory. Cardinal Health and CD&R will each appoint three additional directors for a total of eight directors on the naviHealth board. At that time, Ron Williams, operating advisor to CD&R funds and former chairman and chief executive officer of Aetna, will become chairman of the naviHealth board. When the transaction closes, the current CEO of naviHealth, Clay Richards, will retain his role and become a director on naviHealth’s board. In addition, Cardinal Health will have a call right to reacquire the business. Under the terms of the agreement, CD&R-managed funds will acquire approximately a 55% ownership stake in naviHealth while Cardinal Health will retain approximately a 45% interest in the business. naviHealth currently serves more than two million insured members and manages care transitions for approximately 800 acute hospitals and 11,000 post-acute care facilities nationwide. (NYSE: CAH) and Clayton, Dubilier & Rice (“CD&R”) announced today that CD&R-managed funds will jointly invest with Cardinal Health in naviHealth, the largest manager of post-acute benefits for health plans and a leading value-based care partner to health systems and providers.
DUBLIN, OH and NEW YORK, NY, JCardinal Health, Inc.
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