SAN DIEGO, CA, November 5, 2002 – Pyxis Corporation, a subsidiary of Cardinal Health, Inc. (NYSE: CAH), announced today the acquisition of the assets of KVM Technologies, Inc., a Houston, Texas-based technology firm. Terms of the transaction were not disclosed.
KVM is a contract engineering firm with 25 years of experience developing and manufacturing health care-related automation and other technologies. Pyxis, a leader in point-of-use automation for health care, will leverage KVM’s engineering expertise to extend its line of products and services.
This acquisition furthers Cardinal Health's strategy of providing proprietary products and services that reinforce the company's market-leading position in automation and information services while leveraging its global scale and superior resources to deliver exceptional value to customers.
“KVM engineering professionals work to improve the quality of patient care and help eliminate errors in the medication management and dispensing processes, addressing both pharmacy and nursing needs,” said Stephen S. Thomas, group president of the Automation and Information Services segment of Cardinal Health. “Adding their expertise extends our competitive advantage by providing new resources to meet the needs of the health care marketplace. This acquisition clearly supports our ongoing commitment to addressing our customers’ needs.”
“We are very pleased to extend our engineering capabilities to Pyxis customers,” said Ron Kokot, chief executive officer of KVM Technologies, Inc. “Our combined resources provide even more opportunities to enhance the efficient distribution of medications, reduce labor and improve patient care.”
About Pyxis Corporation
A subsidiary of Dublin, Ohio-based Cardinal Health, San Diego-based Pyxis Corporation (www.pyxis.com) was established in 1987 with a simple objective: to revolutionize the way medication and supplies are distributed within health care facilities. Pyxis automated dispensing technology allows health care providers to streamline the medication and medical supply distribution process, cut costs and save time, and enables pharmacists and nurses to direct more energy to clinical solutions resulting in better patient care. Pyxis currently serves more than 4,500 customers worldwide.
About Cardinal Health
Cardinal Health, Inc. (www.cardinal.com) is the leading provider of products and services supporting the health care industry. Cardinal Health companies develop, manufacture, package and market products for patient care; develop drug-delivery technologies; distribute pharmaceuticals, medical-surgical and laboratory supplies; and offer consulting and other services that improve quality and efficiency in health care. Headquartered in Dublin, Ohio, Cardinal Health employs more than 49,000 people on five continents and produces annual revenues of more than $44 billion. Cardinal Health is ranked #23 on the current Fortune 500 list and was named one of the “The World’s Best” companies by Forbes magazine in 2002.
Except for historical information, all other information in this news release consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. The most significant of these uncertainties are described in Cardinal Health’s Form 10-K, Form 8-K and Form 10-Q reports and exhibits to those reports, and include (but are not limited to) the costs, difficulties, and uncertainties related to the integration of acquired businesses, the loss of one or more key customer or supplier relationships, changes in the distribution outsourcing patterns for health-care products and/or services, the costs and other effects of governmental regulation and legal and administrative proceedings, and general economic conditions. Cardinal undertakes no obligation to update or revise any forward-looking statements.