Cardinal Health wins $1B Defense Dept. contract renewal

The U.S. Defense Dept. yesterday awarded a $1.02 billion contract renewal to Cardinal Health (NYSE:CAH).

The 20-month option calls for McGaw Park, Ill.-based Cardinal Health to provide medical and surgical supplies to the Tricare military healthcare program in 29 states. It’s the 2nd of 2 options included with the original 20-month contract, the Defense Dept. said.

Owens & Minor (NYSE:OMI) also won a 2nd 20-month contract renewal for medical and surgical supplies for Tricare, worth $240.3 million, the DoD said.

In May, Johnson & Johnson (NYSE:JNJ) accepted a binding offer from Cardinal Health for its Cordis stent-making business. Cardinal agreed to pay $1.94 billion for Cordis, or $1.59 billion net of tax benefits. The deal is expected to close near the end of 2015.

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