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Gus Iversen, Editor in Chief | August 18, 2025
Cardinal Health has agreed to acquire Solaris Health, a major urology-focused management services organization, in a deal that will add more than 750 providers to its multispecialty MSO platform, The Specialty Alliance. The transaction, valued at approximately $1.9 billion, is expected to close by the end of 2025, pending regulatory and physician approvals.
The Dublin, Ohio-based company will finance the acquisition through a mix of cash on hand and new debt, and will hold a 75% ownership stake in The Specialty Alliance following the transaction. The deal builds on recent urology acquisitions, including Urology America, Potomac Urology, and Academic Urology & Urogynecology, solidifying Cardinal’s presence in the specialty.
Solaris Health, based in the U.S., operates in 14 states and manages over 250 practice locations. The group will become part of the Urology Alliance within The Specialty Alliance, a newly formed division focused on advancing coordinated care across urology practices.
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“This partnership expands our collaborative network of urology providers, allowing physicians to optimize care delivery and enhance patient access to specialized services in their local communities,” said Dr. Gary Kirsh, CEO of Solaris Health, who will step down following the transaction and transition into a senior advisor role.
Cardinal Health CEO Jason Hollar noted the importance of urology as a focus area for the company. “We are well-positioned to meet the comprehensive needs of community urologists through the robust combined capabilities of The Specialty Alliance, Specialty Networks and Cardinal Health,” he said.
Cardinal expects the transaction to be slightly accretive to non-GAAP earnings in the first year after closing and plans to maintain its previously stated share repurchase goals. The company aims to remain within its targeted leverage range by the end of fiscal year 2026.
Advisors on the deal included Goldman Sachs for Cardinal Health and Centerview Partners for Solaris Health. Legal advisors included Skadden, Arps, Slate, Meagher & Flom LLP and McDermott Will & Emery.
