Cardinal Health balances strategic acquisitions with organic growth

DUBLIN, Ohio – Cardinal Health’s at-Home Solutions business has benefited greatly from its acquisition of Advanced Diabetes Supply (ADS) in April 2025, but CEO Jason Hollar made a point during a recent conference call to acknowledge the performance of its “core,” even as it considers additional opportunistic acquisitions. 

Cardinal Health’s Other segment, which includes at-Home Solutions, saw revenues increase 34% to $1.7 billion for its second quarter fiscal year 2026. Profit increased 52% to $179 million. 

“The core was strong for each of the three businesses within our Other segment,” Hollar said. “We saw good, double-digit growth irrespective of the M&A and the ADS acquisition, as well. It's still early in terms of all the integration and synergy opportunities, but the core business remains strong overall for at-Home business, but also for our Nuclear and OptiFreight businesses. Each one of these three businesses is very much focused on core organic investments, making sure that the core is strong and that we're taking care of customers and patients that we have today. We are investing organically in each of these three businesses in different ways to further propel their capabilities and their growth going forward.” 

For at-Home Solutions, current investments center on expanding automation and technology across its distribution network to support scaling demand for home-delivered medical supplies. Cardinal Health has completed three of 11 planned distribution centers, with three more slated to open over the next three years. 

Synergies across Cardinal 

Cardinal Health is also investing in synergies between at-Home Solutions and its Pharma and Specialty Solutions business, highlighted most recently by the launch of ContinuCare Pathway. The referral program connects retail pharmacies to Cardinal Health at-Home Solutions to streamline the fulfillment and home delivery of diabetes supplies, including continuous glucose monitors (CGMs). 

“This program leverages the full Cardinal Health portfolio to simplify diabetes supply management for partner pharmacies and patients, which is already supporting over 11,000 pharmacies today with more opportunities in the pilot testing phase,” Hollar said. “We are pleased to announce a key partnership with public supermarkets, a recent new customer in our pharma business to further expand our reach.” 

Acquisitions remain on the table 

Despite focusing on organic growth, Hollar made clear that Cardinal Health continues to evaluate acquisition opportunities in the fragmented home medical supplies market. 

“But we're going to make certain that we protect the core with any of those additional acquisitions to ensure that it truly does create synergistic value, helps build capabilities and that we're not going to be doing anything defensively here,” he said. “We'll be looking to see if there's some offensive actions.”