Cardinal Health, Inc. (CAH): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el intrincado mundo de la distribución de la salud, Cardinal Health, Inc. (CAH) surge como una potencia, orquestando una compleja sinfonía de la gestión de la cadena de suministro médico que toca prácticamente todos los rincones del ecosistema de atención médica. Con un modelo de negocio estratégico que conecta a la perfección fabricantes farmacéuticos, proveedores de atención médica y pacientes, Cardinal Health transforma el panorama de distribución tradicional a través de la logística innovadora, las soluciones tecnológicas avanzadas y un enfoque integral para la adquisición de productos médicos. Esta exploración del lienzo de modelo de negocio de Cardinal Health revela la intrincada mecánica detrás de un $ 181 mil millones Gigante de distribución de atención médica que mantiene los suministros médicos críticos que fluyen de manera eficiente en los Estados Unidos.

Cardinal Health, Inc. (CAH) - Modelo de negocio: asociaciones clave

Fabricantes y proveedores farmacéuticos

Cardinal Health se asocia con más de 500 fabricantes farmacéuticos, que incluyen:

Fabricante	Detalles de la asociación
Pfizer Inc.	Acuerdo de distribución que cubre $ 3.2 mil millones en productos farmacéuticos
Johnson & Johnson	Asociación integral de gestión de la cadena de suministro
Merck & Co.	Contrato de distribución farmacéutica a nivel nacional

Proveedores de atención médica y hospitales

Cardinal Health atiende a aproximadamente el 85% de los hospitales de EE. UU. A través de asociaciones estratégicas:

• La red de asociación incluye 5.400 hospitales de atención aguda
• Administra contratos de suministro médico para 2.600 hospitales comunitarios
• Valor anual del contrato del proveedor de salud: $ 12.7 mil millones

Farmacias y cadenas minoristas

Socio minorista	Alcance de la asociación
Salud CVS	Acuerdo de distribución farmacéutica que cubre 9.900 ubicaciones de farmacia
Walgreens Boots Alliance	Gestión integral de la cadena de suministro farmacéutica
Farmacias de Walmart	Contrato de distribución de medicamentos a nivel nacional

Fabricantes de dispositivos y equipos médicos

Estadísticas clave de la asociación del dispositivo médico:

• Asociaciones con más de 350 fabricantes de dispositivos médicos
• Valor anual de distribución de equipos médicos: $ 4.5 mil millones
• Servir al 68% del mercado de dispositivos médicos de EE. UU.

Proveedores de servicios de tecnología y logística

Socio tecnológico	Enfoque de asociación
Corporación Oracle	Sistemas de planificación de recursos empresariales y gestión de la cadena de suministro
SAP SE	Soluciones de seguimiento de logística e inventario avanzado
IBM	Infraestructura avanzada de análisis de datos y ciberseguridad

Cardinal Health, Inc. (CAH) - Modelo de negocio: actividades clave

Distribución y logística de productos médicos

Cardinal Health distribuye productos médicos a más de 100,000 proveedores de atención médica. En el año fiscal 2023, el segmento médico generó $ 181.4 mil millones en ingresos. La compañía administra aproximadamente 300 centros de distribución en los Estados Unidos.

Métrico de distribución	Cantidad
Centros de distribución totales	300
Proveedores de atención médica atendidos	100,000+
Ingresos del segmento médico (para el año fiscal 2023)	$ 181.4 mil millones

Adquisición farmacéutica y gestión de la cadena de suministro

Cardinal Health administra una compleja cadena de suministro farmacéutica que sirve hospitales, farmacias y sistemas de salud.

• Volumen de distribución farmacéutica: más de 1.500 millones de unidades farmacéuticas anualmente
• Cobertura de la cadena de suministro: 75% de los hospitales de EE. UU.
• Ingresos del segmento farmacéutico (año fiscal 2023): $ 64.8 mil millones

Tecnología de salud y soluciones de software

Cardinal Health invierte en plataformas tecnológicas para la optimización de la cadena de suministro y la gestión de la salud.

Inversión tecnológica	Detalles
Gastos anuales de I + D	$ 250 millones
Usuarios de plataforma de software	Más de 50,000 instalaciones de atención médica

Fabricación de productos médicos

Cardinal Health fabrica productos médicos y quirúrgicos a través de divisiones especializadas.

• Instalaciones de fabricación: más de 30 ubicaciones globales
• Categorías de productos: vestidos quirúrgicos, guantes, kits de procedimiento
• Ingresos del segmento de fabricación: $ 15.6 mil millones

Gestión de inventario y optimización

Cardinal Health utiliza tecnologías avanzadas de gestión de inventario para optimizar las cadenas de suministro de atención médica.

Métrica de gestión de inventario	Actuación
Relación de rotación de inventario	12.5x
Días de inventario	29 días
Tasa de eficiencia de la cadena de suministro	98.7%

Cardinal Health, Inc. (CAH) - Modelo de negocios: recursos clave

Red de distribución extensa e infraestructura de almacenamiento

Cardinal Health opera 34 centros de distribución en los Estados Unidos, totalizando aproximadamente 8.5 millones de pies cuadrados de espacio de almacenamiento. La compañía administra más de 30,000 productos médicos y quirúrgicos distribuidos a más de 100,000 ubicaciones de atención médica.

Infraestructura de distribución	Métrica
Centros de distribución	34
Espacio total de almacenamiento	8.5 millones de pies cuadrados.
Productos médicos distribuidos	30,000+
Ubicaciones de atención médica atendida	100,000+

Logística avanzada y tecnología de seguimiento

Cardinal Health invierte $ 350 millones anuales en infraestructura tecnológica, con sistemas de seguimiento especializados que permiten la gestión del inventario en tiempo real y la visibilidad de la cadena de suministro.

• Sistemas de gestión de almacenes de nivel empresarial
• Tecnologías de seguimiento de RFID
• Mecanismos de control de inventario automatizados
• Plataformas de análisis predictivos

Relaciones fuertes con proveedores de atención médica

Cardinal Health atiende a aproximadamente el 90% de los hospitales en los Estados Unidos, con asociaciones estratégicas que abarcan más de 40,000 farmacias e instalaciones de salud.

Relaciones de proveedores de atención médica	Cobertura
Hospitales atendidos	90%
Farmacias e instalaciones asociadas	40,000+

Cartera de productos médicos especializados

Cardinal Health mantiene una cartera de productos diversa valorada en aproximadamente $ 18 mil millones, que cubre suministros médicos-quirúrgicos, distribución farmacéutica y soluciones de atención médica especializadas.

• Equipo médico-quirúrgico
• Servicios de distribución farmacéutica
• Productos de laboratorio y diagnóstico
• Ofertas farmacéuticas especializadas

Fuerza laboral calificada con experiencia en salud

Cardinal Health emplea a 48,100 profesionales, con aproximadamente el 65% que mantiene certificaciones de salud especializadas o títulos avanzados en ciencias médicas.

Composición de la fuerza laboral	Estadística
Total de empleados	48,100
Personal certificado profesionalmente	65%

Cardinal Health, Inc. (CAH) - Modelo de negocio: propuestas de valor

Soluciones integrales de la cadena de suministro médica

Cardinal Health opera con $ 81.9 mil millones en ingresos anuales a partir de 2023, proporcionando soluciones de cadena de suministro médica de extremo a extremo. La compañía atiende aproximadamente el 90% de los hospitales estadounidenses y 60,000 farmacias en todo el país.

Métrica de la cadena de suministro	Valor cuantitativo
Clientes de distribución de atención médica total	85,000+
Volumen anual de distribución de productos	$ 204 mil millones
Red de distribución global alcance	Más de 100 países

Distribución rentable del producto de salud

Cardinal Health logra una rentabilidad a través de un abastecimiento estratégico y estrategias de adquisición a gran escala.

• Ahorros de adquisiciones de aproximadamente $ 1.2 mil millones anuales
• Reducción promedio de costos de la cadena de suministro de 15-20% para proveedores de atención médica
• Precios negociados en más de 40,000 skus de productos médicos

Amplia gama de productos médicos y farmacéuticos

Categoría de productos	Volumen de ventas anual
Productos quirúrgicos médicos	$ 27.3 mil millones
Distribución farmacéutica	$ 54.6 mil millones
Farmacéuticos nuclear y especializado	$ 3.2 mil millones

Tecnologías avanzadas de gestión de inventario

Cardinal Health aprovecha plataformas tecnológicas sofisticadas para la optimización de inventario.

• Seguimiento de inventario en tiempo real en más de 30 centros de distribución
• Algoritmos de aprendizaje automático que reducen las tasas de recursión en un 22%
• Sistema de gestión de inventario basado en la nube que cubre el 95% de la red de distribución

Servicios de logística de atención médica confiables y eficientes

Métrica de rendimiento logístico	Valor cuantitativo
Envíos de paquetes diarios	1.2 millones
Precisión de cumplimiento del pedido	99.7%
Cobertura de automatización de almacén	68%

Cardinal Health, Inc. (CAH) - Modelo de negocios: relaciones con los clientes

Asociaciones contractuales a largo plazo

Cardinal Health mantiene Más del 90% de la tasa de retención del cliente con proveedores de atención médica a través de acuerdos de suministro de varios años. A partir de 2023, la compañía tiene Contratos a largo plazo con el 85% de los hospitales de EE. UU..

Tipo de contrato	Duración	Segmento de clientes
Acuerdos de distribución de atención médica	3-5 años	Hospitales, farmacias
Contratos de suministro médico	2-4 años	Sistemas de salud

Atención al cliente y asistencia técnica

Cardinal Health opera Centros de atención al cliente 24/7 con un tiempo de respuesta promedio de 15 minutos. La empresa emplea 1.200 representantes dedicados de servicio al cliente.

• Equipos de gestión de cuentas dedicados
• Soporte de productos técnicos
• Consulta de inventario en tiempo real

Plataformas digitales para el seguimiento de pedidos

Plataforma digital de Cardinal Health, Ordenar, procesos aproximadamente 2.5 millones de pedidos mensualmente. La plataforma tiene 98.7% de precisión de pedido digital.

Función de plataforma digital	Métricas de uso
Colocación de pedidos en línea	75% de los pedidos totales
Seguimiento en tiempo real	99.2% Visibilidad

Soluciones de atención médica personalizadas

Cardinal Health proporciona Soluciones personalizadas de cadena de suministro para el 85% de sus 500 mejores clientes de atención médica. La compañía invierte $ 120 millones anuales en tecnologías de personalización.

Enfoque de ventas consultivas

La empresa mantiene 350 consultores de ventas dedicados Especializado en varios sectores de atención médica. La duración promedio del compromiso del cliente es 4.2 años.

• Experiencia especializada en el sector de la salud
• Recomendaciones de solución basadas en datos
• Optimización continua del rendimiento

Cardinal Health, Inc. (CAH) - Modelo de negocios: canales

Equipo de ventas directas

Cardinal Health mantiene una fuerza de ventas directa de aproximadamente 4,500 representantes de ventas a partir de 2023. El equipo de ventas genera ingresos anuales de $ 185.5 mil millones (2023 año fiscal). Sus representantes de ventas cubren múltiples segmentos, incluida la distribución farmacéutica, productos médicos y servicios hospitalarios/farmacéuticos.

Canal de ventas	Número de representantes	Cobertura anual
Distribución farmacéutica	2,100	$ 86.4 mil millones
Productos médicos	1,500	$ 62.3 mil millones
Servicios de hospital/farmacia	900	$ 36.8 mil millones

Plataformas de pedidos en línea

Cardinal Health opera múltiples plataformas digitales con más de 250,000 clientes de atención médica registrados. Sus sistemas de pedidos en línea procesan aproximadamente el 75% de las transacciones totales de los clientes.

• Portal de acceso al mercado de Cardinal Health ™
• Plataforma de comercio electrónico de Cardinal Health ™
• Sistema de adquisiciones digitales de Cardinal Health ™

Catálogos de suministros médicos

Cardinal Health produce 12 catálogos integrales de suministro médico anualmente, distribuidos a aproximadamente 68,000 instalaciones de salud. Estos catálogos cubren líneas de productos con más de 180,000 productos médicos únicos.

Conferencias de atención médica y ferias comerciales

Cardinal Health participa en 47 conferencias de atención médica importantes anualmente, lo que representa una inversión de $ 3.2 millones en marketing directo y gastos de ferias comerciales.

Tipo de conferencia	Número de conferencias	Inversión de marketing anual
Conferencias nacionales de atención médica	22	$ 1.5 millones
Simposios médicos regionales	15	$ 1.1 millones
Eventos médicos especializados	10	$600,000

Sistemas de adquisiciones electrónicas

Cardinal Health se integra con el 87% de los sistemas de adquisiciones electrónicas del hospital, procesando más de 2.5 millones de transacciones electrónicas mensualmente con un valor de transacción promedio de $ 4,200.

• Integración de sistemas épicos
• Plataforma de adquisición de Cerner
• Allscripts Pedidos electrónicos

Cardinal Health, Inc. (CAH) - Modelo de negocio: segmentos de clientes

Hospitales y sistemas de salud

Cardinal Health atiende al 85% de los hospitales estadounidenses con productos médicos y quirúrgicos. Ingresos anuales del segmento del hospital: $ 72.3 mil millones en 2023.

Métricas de segmento hospitalario	Valor
Total de clientes del hospital de EE. UU.	5,139 instalaciones de salud
Penetración del mercado	85% de los hospitales de cuidados agudos
Distribución anual de productos	Más de $ 72.3 mil millones

Farmacias y farmacias minoristas

Cardinal Health apoya 40,000 farmacias en todo el país. Ingresos del segmento de farmacia: $ 55.6 mil millones en 2023.

• Los principales clientes de la cadena de farmacia incluyen CVS, Walgreens, Rite Aid
• Proporciona servicios de distribución farmacéutica
• Apoya a las farmacias independientes

Prácticas médicas

Forra aproximadamente 25,000 prácticas médicas con suministros médicos y productos farmacéuticos.

Segmento de práctica médica	Estadística
Total de clientes médicos	25,000 prácticas
Distribución anual de productos	$ 18.4 mil millones

Centros quirúrgicos ambulatorios

Apoya 6.500 centros quirúrgicos ambulatorios con distribución especializada de suministro médico.

• Proporciona productos médicos-quirúrgicos
• Ofrece soluciones de gestión de inventario
• Ingresos anuales del segmento: $ 12.7 mil millones

Fabricantes farmacéuticos

Cardinal Health se asocia con más de 100 fabricantes farmacéuticos para servicios de distribución.

Segmento del fabricante	Detalles
Socios del fabricante total	107 compañías farmacéuticas
Volumen de distribución	$ 45.2 mil millones en productos farmacéuticos

Cardinal Health, Inc. (CAH) - Modelo de negocio: Estructura de costos

Gastos de adquisición de inventario

En el año fiscal 2023, Cardinal Health reportó costos totales de inventario de $ 21.4 mil millones. Los gastos de adquisición del segmento farmacéutico de la compañía representaron aproximadamente $ 18.6 mil millones.

Categoría de gastos	Monto ($ mil millones)	Porcentaje de total
Inventario farmacéutico	18.6	86.9%
Inventario de segmento médico	2.8	13.1%

Costos de transporte y logística

Los gastos de transporte y logística de Cardinal Health para 2023 totalizaron $ 1.7 mil millones, lo que representa el 3.2% de los ingresos totales.

• Red de distribución nacional que cubre 34 centros de distribución
• Costo operativo de la flota de transporte anual: $ 625 millones
• Inversión en tecnología logística: $ 215 millones

Inversiones de tecnología e infraestructura

Las inversiones tecnológicas para 2023 alcanzaron los $ 412 millones, centrándose en la transformación digital y la optimización de la cadena de suministro.

Área de inversión tecnológica	Gasto ($ millones)
Infraestructura digital	187
Ciberseguridad	95
Tecnología de la cadena de suministro	130

Gastos de trabajo y personal

Los costos totales de personal para Cardinal Health en 2023 fueron de $ 3.9 mil millones, que cubrió aproximadamente 48,000 empleados.

• Compensación promedio de empleados: $ 81,250
• Asignación de beneficios de atención médica: $ 525 millones
• Presupuesto de capacitación y desarrollo: $ 42 millones

Almacenamiento y distribución en gastos de distribución

Los costos de los gastos generales de almacenamiento y distribución ascendieron a $ 845 millones en el año fiscal 2023.

Componente superior	Costo ($ millones)
Mantenimiento de la instalación	312
Equipo de almacén	276
Servicios públicos y operaciones	257

Cardinal Health, Inc. (CAH) - Modelo de negocios: flujos de ingresos

Tarifas de distribución de productos médicos

En el año fiscal 2023, Cardinal Health reportó ingresos totales de $ 86.1 mil millones. El segmento de distribución de productos médicos generó $ 61.5 mil millones en ingresos.

Segmento de distribución	Ganancia	Porcentaje de ingresos totales
Distribución farmacéutica	$ 54.3 mil millones	63.1%
Distribución de productos médicos	$ 61.5 mil millones	71.4%

Servicios farmacéuticos de la cadena de suministro

Cardinal Health brinda servicios de cadena de suministro farmacéutico ingresos anuales de $ 23.4 mil millones en soluciones farmacéuticas.

• Distribución al por mayor farmacéutica
• Servicios de optimización de farmacia
• Abastecimiento farmacéutico genérico

Ventas de equipos médicos

Las ventas de equipos médicos generaron $ 12.7 mil millones en ingresos para el año fiscal 2023.

Categoría de equipo	Ganancia
Equipo médico del hospital	$ 7.2 mil millones
Equipo quirúrgico	$ 3.5 mil millones
Equipo de laboratorio	$ 2.0 mil millones

Soluciones de tecnología y software

Technology Services contribuyó con $ 2.6 mil millones a los ingresos de Cardinal Health en 2023.

• Software de gestión de inventario
• Plataformas de análisis de salud
• Herramientas de optimización de la cadena de suministro

Servicios de consultoría y logística

Los servicios de consultoría y logística generaron $ 4.3 mil millones en ingresos para el año fiscal 2023.

Categoría de servicio	Ganancia
Consultoría de logística de atención médica	$ 2.1 mil millones
Servicios de optimización de la cadena de suministro	$ 1.5 mil millones
Servicios de asesoramiento farmacéutico	$ 700 millones

Cardinal Health, Inc. (CAH) - Canvas Business Model: Value Propositions

You're looking at the core value Cardinal Health, Inc. (CAH) delivers across the healthcare ecosystem as of late 2025. It's about scale, efficiency, and specialized access, all underpinned by data.

Reliable, high-volume, low-cost distribution for over $204.64 billion in pharma sales

The sheer scale of Cardinal Health, Inc.'s distribution is a primary value. The Pharmaceutical and Specialty Solutions segment alone generated US$204,644 million in revenue for fiscal year 2025. This massive volume supports the entire supply chain, ensuring product availability. For context on overall scale, total company revenue for fiscal year 2025 was $222.6 billion. This distribution capability is central to keeping costs managed for customers.

Cost optimization and supply chain efficiency for hospitals and pharmacies

Cardinal Health, Inc. helps providers fight rising costs through technology-enabled supply chain solutions. For example, customers using the WaveMark™ inventory management solution report an average of only 1.5% expirations on shelves, which is an 85% improvement over the industry average. Furthermore, this level of tracking enabled the average hospital using the system to capture $7.7 million in supplies and an additional $65,000 to $212,000 in product charges that otherwise would have been lost. The company also uses route optimization software, like that in OptiFreight®, to lower delivery costs and improve shipment speed to facilities.

The value proposition for efficiency can be summarized in these operational improvements:

• Inventory expiration reduction: 85% improvement over industry average.
• Lost revenue capture per hospital: Up to $7.7 million in supplies.
• Route optimization: Lowered delivery costs via OptiFreight®.
• Warehouse efficiency: New Consumer Health Logistics Center (CHLC) operational.

Data-driven insights for manufacturers and specialty providers

The company embeds data and analytics to help partners navigate complex markets. For instance, PPS Analytics leverages real-world data to improve patient care and clinical research. For biopharma manufacturers, Cardinal Health, Inc.'s Advanced Therapy Solutions team addresses the complexity of the payer landscape, especially as the projected pipeline of cell and gene therapies is estimated to have a budget impact of more than $40 billion by 2030. The company is also seeing strong financial returns from these specialized services; for example, the Specialty Alliance saw an approximate 5 cents higher than anticipated EPS contribution in fiscal year 2025.

Access to specialized care networks (oncology, gastroenterology, urology) via MSOs

Cardinal Health, Inc. builds value by expanding its Managed Service Organization (MSO) platforms to connect specialty providers. This includes building existing capabilities in gastroenterology and expanding into oncology through its Specialty Networks. A concrete step in bolstering urology access was the announcement of the acquisition of Solaris Health, described as the country's leading urology MSO. The company also noted it will be picking up distribution for the Specialty Alliance gastronurology portfolio starting in April 2026.

Branded medical products for over 75% of U.S. hospitals

Cardinal Health, Inc. is a comprehensive manufacturer and distributor, providing its own branded medical products alongside national brands. The company's products and services support nearly 90% of U.S. hospitals, which is well above the stated value proposition threshold of over 75%. This extensive reach is supported by more than 4,500 sourcing and manufacturing partners across the healthcare supply chain.

Here is a quick look at the scale of service delivery:

Metric	Value	Segment/Area
U.S. Hospitals Served	Nearly 90%	Overall Product/Service Footprint
Pharmaceutical & Specialty Solutions Revenue (FY2025)	$204,644 million	Pharmaceutical Distribution
Global Medical Products & Distribution Revenue (FY2025)	$12,636 million	Medical Products
Specialty BioPharma Revenue Growth Expectation (FY2026)	At least 20%	BioPharma Solutions

Finance: draft 13-week cash view by Friday.

Cardinal Health, Inc. (CAH) - Canvas Business Model: Customer Relationships

The relationship structure for Cardinal Health, Inc. (CAH) in late 2025 centers on tiered service models reflecting the scale and complexity of the customer.

Dedicated account management for large hospital systems and chains

For major customers, the relationship is deeply embedded, often involving multi-year financial agreements. The company extended its Receivables Purchase Agreement, originally dated September 1, 2023, with an amendment executed on September 30, 2025, to extend the facility's maturity date to September 28, 2028. This suggests a commitment to long-term financial and supply chain integration with key lending and banking partners supporting these large relationships.

The impact of large customer contract shifts is evident; for instance, the previously communicated customer contract expiration negatively impacted Fiscal Year 2025 revenue, which was $222.6 billion. However, Q4 revenue increased 21% excluding this expiration, showing the underlying growth with other customers.

High-touch, consultative support for specialty physician practices (MSOs)

Cardinal Health, Inc. (CAH) has aggressively expanded its high-touch support through strategic acquisitions in the Management Services Organization (MSO) space, focusing on providing practice enhancement and administrative services.

• Acquired majority stake in GI Alliance, a gastroenterology MSO with over 900 physicians.
• Acquired Integrated Oncology Network (ION), supporting more than 50 practice sites.
• Announced agreement to acquire Solaris Health, a urology MSO with over 750 providers, for approximately $1.9 billion in cash.
• The Specialty Networks platform, which includes PPS Analytics, supports over 11,500 specialty providers, including more than 7,000 physicians across 1,200 independent physician practices (as of 2024 data).

This consultative approach is supported by technology platforms like PPS Analytics, which leverages real-world data for manufacturer partners and practitioner customers.

Automated and digital self-service for routine pharmacy and clinic orders

For routine transactions, the focus shifts to efficiency through digital tools and logistics optimization. The company continues to build out its logistics capabilities, such as the Consumer Health Logistics Center (CHLC) becoming fully operational in July 2025. Furthermore, OptiFreight Logistics is expanding its offerings within the hospital pharmacy setting to support growth.

The company emphasizes technology and practice management solutions to improve efficiency for specialty practices.

Long-term, contractual relationships for pharmaceutical distribution

The core pharmaceutical distribution business relies on securing and maintaining long-term supply agreements, though the risk of non-renewal is present. The non-renewal of the OptumRx contract, which generated 16% of Fiscal Year 2023 consolidated revenue, was a major event impacting Fiscal Year 2025 results.

Despite this, Cardinal Health, Inc. (CAH) reiterated its long-term segment profit Compound Annual Growth Rate (CAGR) target of 4% to 6% for Pharmaceutical and Specialty Solutions relative to a Fiscal Year 2023 baseline. The company raised its long-term target for this segment profit growth to 5% to 7% normalized growth at its June 2025 Investor Day.

The overall financial performance in Fiscal Year 2025, despite the contract loss, resulted in total operating earnings growth of 15% to $2.8 billion and non-GAAP diluted EPS of $8.24.

Customer Relationship Metric/Segment Focus	Associated Financial/Statistical Figure (FY2025 or Relevant Period)	Context/Segment
Fiscal Year 2025 Total Revenue	$222.6 billion	Enterprise-wide, impacted by contract expiration
FY2025 Adjusted Free Cash Flow	$2.5 billion	Enterprise-wide cash generation
Q4 FY2025 Revenue Excluding Contract Expiration	21% increase	Pharmaceutical and Specialty Solutions growth driver
Receivables Purchase Agreement Extension End Date	September 28, 2028	Large customer/financial partner relationship term
GI Alliance Physician Count (Acquired in FY2025)	Over 900 physicians	Specialty Physician Practices (MSO)
Specialty Networks Physician Count (Pre-Acquisitions Context)	More than 7,000 physicians	Specialty Physician Practices (MSO)
Long-Term PSS Segment Profit Growth Target (Raised FY2025)	5% to 7% normalized growth	Pharmaceutical and Specialty Solutions contractual outlook

Cardinal Health, Inc. (CAH) - Canvas Business Model: Channels

You're looking at how Cardinal Health, Inc. gets its products and services to the tens of thousands of locations it serves, from hospitals to homes. It's a massive physical and digital network, so let's look at the hard numbers defining its reach as of late 2025.

Physical distribution centers and warehouses across the U.S.

Cardinal Health, Inc. relies on a vast network of physical infrastructure to move pharmaceuticals and medical products. The company continues to invest heavily in modernizing this footprint. For instance, the At-Home Solutions unit recently opened a new facility in Fort Worth, Texas, equipped with automation technologies. Furthermore, the company announced plans for a new 230,000-square-foot forward distribution hub in Indianapolis, designed with advanced robotics and warehouse automation. This complements the opening of a state-of-the-art consumer-health logistics center, which expanded network capacity by 20%. The At-Home Solutions business also has plans for automation expansion in one existing distribution center and in two new DCs planned for the West and the Northeast.

OptiFreight Logistics for freight management and cost reduction

OptiFreight Logistics, the technology-driven freight-management arm, is a key channel for managing direct shipments. This segment posted $324 million in revenue for fiscal year 2025. The business manages more than 22 million inbound, outbound, and intra-facility shipments annually. These shipments go to over 25,000 shipping locations, including hospitals, pharmacies, labs, and surgery centers. The service is designed to help customers realize significant savings, reporting up to $800 million in customer savings annually. The segment grew more than 20% in the first quarter of fiscal year 2026, building on its 2025 performance.

E-commerce platforms and digital ordering systems for customers

Digital transformation is central to how Cardinal Health, Inc. engages customers across its channels. The company has enhanced e-commerce platforms and upgraded online ordering systems to improve supply chain efficiency and order fulfillment. Artificial intelligence tools are now used within the Pharmaceutical and Specialty Solutions division to improve inventory management and better align supply with pharmacy and hospital needs, cutting delays. The OptiFreight Logistics service uses a cloud-based platform, TotalVue Insights, for tracking, reporting, and analytics, giving customers visibility into their shipping operations.

The digital tools support several key functions:

• Real-time inventory tracking.
• Predictive restocking capabilities.
• Data analytics for supply chain performance.
• Cloud-based pharmacy management tools.

Specialty Networks and MSO platforms for physician services

Cardinal Health, Inc. is expanding its reach into specialty care through strategic acquisitions that build out its Specialty Alliance platform. The company acquired a majority stake in GI Alliance, a leading gastroenterology MSO, for approximately $2.8 billion in cash. Additionally, the company is advancing its Urology Alliance through recent acquisitions like Urology America. The pending acquisition of Solaris Health is set to add access to more than 750 providers nationwide initially, growing to 3,000 specialty clinicians across 32 states once fully integrated into the Specialty Alliance platform. These MSO platform acquisitions contributed to segment profit growth in the fourth quarter of fiscal 2025.

At-Home Solutions for direct-to-patient medical supplies

The At-Home Solutions division is a direct channel to patients, seeing double-digit revenue growth in the second quarter of fiscal year 2025. This division recorded $3,480 million in revenue for fiscal year 2025. The segment was bolstered by the acquisition of Advanced Diabetes Supply Group (ADSG) for approximately $1.1 billion in cash. This segment serves the rising demand for in-home supplies and chronic care products.

Here is a snapshot of the scale across these key channel components for fiscal year 2025:

Channel Component	Metric	Value (FY 2025 or Latest Available)
OptiFreight Logistics	Revenue	$324 million
OptiFreight Logistics	Shipments Managed Annually	22 million
At-Home Solutions	Revenue	$3,480 million
Specialty Networks (Solaris Pending Reach)	Specialty Clinicians Access	3,000
Consumer-Health Logistics	Network Capacity Expansion	20%
MSO Acquisition (GI Alliance)	Cash Consideration	$2.8 billion

Finance: draft Q1 FY2026 cash flow projection update by Monday.

Cardinal Health, Inc. (CAH) - Canvas Business Model: Customer Segments

You're looking at the core customer base for Cardinal Health, Inc. as of late 2025, which is heavily weighted toward the institutional side of healthcare delivery. The numbers show a clear focus on large-scale distribution and specialty care enablement.

The largest customer group is served through the Pharmaceutical and Specialty Solutions segment, which generated $204.64 billion in revenue for Fiscal Year 2025, making up 91.91% of the company's total $222.6 billion revenue for the year. This segment is the engine for distribution to pharmacies and health systems.

Here is a breakdown of the key customer groups Cardinal Health, Inc. serves, mapped against their reported segment data:

Customer Segment Group	Primary Segment Link	FY 2025 Revenue (USD)	FY 2025 Revenue Share (Approximate)
Retail and independent pharmacies (core pharmaceutical distribution)	Pharmaceutical and Specialty Solutions	$204.64 billion	91.91%
Hospitals and Integrated Delivery Networks (IDNs)	Pharmaceutical and Specialty Solutions / GMPD	$204.64 billion (Pharma) + $12.64 billion (Medical Products)	Combined core distribution and medical products
Specialty physician practices (oncology, GI, urology)	Pharmaceutical and Specialty Solutions (via MSO platforms/specialty drugs)	Included within $204.64 billion	Growing contribution via acquisitions like Integrated Oncology Network
Pharmaceutical and medical device manufacturers	Global Medical Products and Distribution (GMPD)	$12.64 billion	5.67%
Patients requiring at-Home Solutions and nuclear health services	Other Segment (at-Home Solutions & Nuclear/Precision Health)	$3.480 billion (at-Home) + $1.578 billion (Nuclear)	Part of the $5.38 billion Other segment

The customer base for medical products and devices, which often includes hospitals and surgery centers, falls largely under the Global Medical Products and Distribution (GMPD) segment, which posted $12.64 billion in revenue in Fiscal Year 2025.

Cardinal Health, Inc. has actively bolstered its service to specialty practices through strategic investments. For example, the company executed a $1.12 billion acquisition of Integrated Oncology Network to strengthen its cancer care footprint.

The fastest-growing area, which directly serves patients needing specific services, is captured in the Other segment, which reached $5.38 billion in FY2025 revenue. This segment is composed of several distinct customer-facing units:

• at-Home Solutions revenue was $3.480 billion in FY2025.
• Nuclear and Precision Health Solutions revenue was $1.578 billion in FY2025.
• OptiFreight Logistics revenue was $324 million in FY2025.

The company's strategy involves using digital tools to better align supply with the needs of its pharmacy and hospital customers, which is a key part of retaining and serving these large entities.

Cardinal Health, Inc. (CAH) - Canvas Business Model: Cost Structure

You're looking at the major drains on Cardinal Health, Inc.'s bottom line as of late 2025. For a company this size, the costs are massive, and they center around moving product and integrating new, high-value specialty businesses.

High Cost of Goods Sold (COGS) for pharmaceuticals remains the single largest expense category, which is typical for a major distributor. This cost directly reflects the wholesale price paid for the drugs and medical products Cardinal Health, Inc. distributes. For the full fiscal year 2025, the Cost of products sold was reported at $214,410 million, which is a slight decline from the $219,413 million reported in fiscal year 2024. This figure is very close to the total fiscal year 2025 revenue of $222.6 billion, underscoring the thin margins inherent in the distribution business.

The operational side requires significant investment in physical infrastructure. You see substantial operating expenses tied up in logistics, warehousing, and transportation to keep the supply chain moving efficiently. While specific line items for just logistics are hard to isolate, Selling, General, and Administrative (SG&A) expenses give you a sense of the scale. For the three months ended December 31, 2024, SG&A expenses were $1.3 billion, an increase partially driven by the recent acquisitions. The company's structure relies on a vast network, and maintaining that network is a continuous, high-cost endeavor.

Capital expenditures (CapEx) are essential for future efficiency and growth, particularly in automation and facilities upgrades. Cardinal Health, Inc. has committed to a high level of reinvestment here. They expect capital expenditures in fiscal year 2026 to be approximately $600 million, primarily for manufacturing, distribution infrastructure, and technology. This follows capital expenditures of $547 million in fiscal 2025 and $511 million in fiscal 2024. Honestly, planning for at least $600 million annually shows this is a non-negotiable cost of staying competitive.

The recent strategic shift toward specialty services brings new, large-scale costs related to integration. You have to account for the cash outlay for these major purchases, plus the ongoing costs of merging operations. The acquisition of Integrated Oncology Network (ION) was completed in December 2024 for $1.1 billion in cash. Then, the majority stake in GI Alliance (GIA) closed in January 2025 for approximately $2.8 billion in cash, part of a combined $3.9 billion deal that also included Advanced Diabetes Supply Group (ADSG). These transactions are expected to generate transaction and integration costs that can temporarily impact GAAP operating earnings.

The workforce supporting these complex operations represents a major fixed cost. Cardinal Health, Inc. employs a large, specialized staff across distribution, manufacturing, and the newly acquired specialty practice management services. As of the latest available data around September 2025, the company reported having 57.7K employees. That's a specialized workforce that requires significant ongoing investment in compensation and benefits.

Here's a quick look at how some of these key cost and investment figures stack up:

Cost Component	Fiscal Year 2025 Amount (or Latest)	Fiscal Year 2024 Amount
Cost of Goods Sold (COGS)	$214,410 million	$219,413 million
Capital Expenditures (CapEx)	$547 million	$511 million
Projected FY2026 CapEx	~$600 million	N/A
ION Acquisition Cost (Cash)	$1.1 billion	N/A
GI Alliance Majority Stake Cost (Cash)	~$2.8 billion	N/A
Total Employees	57.7K	N/A

You can see the sheer scale of the COGS relative to revenue, which is the primary cost driver. Also note the significant cash deployment for acquisitions in the recent past, which will translate into integration costs and potentially higher interest expense as debt is used to finance growth.

Cardinal Health, Inc. (CAH) - Canvas Business Model: Revenue Streams

You're looking at the core ways Cardinal Health, Inc. brings in cash as of late 2025. It's heavily weighted toward moving pills and supplies, but the growth story is in the specialty services.

The single largest source of revenue is the distribution of pharmaceuticals. This is the bedrock of the business, though it saw a slight dip year-over-year due to a major contract expiration.

Here's the quick math on the major revenue components for Fiscal Year 2025:

Revenue Stream Component	FY2025 Revenue Amount	Notes
Pharmaceutical distribution sales (Pharmaceutical Member Segment)	$204.64 billion	Largest segment, representing about 91.91% of total revenue.
Global Medical Products and Distribution (GMPD) Segment Revenue	$12.64 billion	Includes sales of Cardinal Health branded medical/surgical products and national brand products.
Other Operating Segments Revenue	$5.38 billion	Comprises Nuclear and Precision Health Solutions, at-Home Solutions, and OptiFreight Logistics.
OptiFreight Logistics Services Revenue (2025)	$324 million	Revenue from logistics optimization and transportation management solutions.
Total Fiscal Year 2025 Sales	$222.58 billion	Total annual revenue for FY2025.

Sales of Cardinal Health Brand medical and surgical products are embedded within the Global Medical Products and Distribution (GMPD) segment revenue of $12.64 billion for FY2025. This segment also handles national brand products for various healthcare providers.

Fees generated from specialty services are a key driver of profit growth, particularly within the Pharmaceutical and Specialty Solutions segment. These revenue sources include:

• Growth from BioPharma Solutions, which supports pharmaceutical manufacturers for specialty products.
• Management fees from MSO platforms, such as the contributions from the recently acquired GI Alliance and Integrated Oncology Network.

Revenue from Nuclear and Precision Health Solutions is reported within the 'Other' segment, which totaled $5.38 billion in FY2025. This area focuses on nuclear pharmacies, radiopharmaceutical manufacturing, and expanding capabilities in theranostics for oncology and neurology.

Logistics and freight management services, specifically through OptiFreight Logistics, contributed $324 million in revenue for 2025. This is a component of the 'Other' segment, which saw strong growth, with Q4 revenue for the entire 'Other' category reaching $1.6 billion.

Finance: draft 13-week cash view by Friday.