Summary
Cardinal Health, Inc. (CAH) filed an 8-K on April 30, 2007, detailing a further phase of its ongoing global restructuring program. This third phase involves relocating the headquarters of its Healthcare Supply Chain Services – Medical segment and certain corporate functions from Waukegan, Illinois, to its main corporate headquarters in Dublin, Ohio. The company has authorized up to $45 million in costs for this specific phase, which are expected to be primarily employee-related and result in future cash expenditures, with most costs anticipated in fiscal year 2008 and 2009. These costs are being absorbed within the overall authorized budget for the restructuring program.
Key Highlights
- 1Cardinal Health is initiating a third phase of its global restructuring program, focusing on relocating its Healthcare Supply Chain Services – Medical segment headquarters and corporate functions.
- 2The relocation will move these operations from Waukegan, Illinois, to the company's primary corporate headquarters in Dublin, Ohio.
- 3The company has authorized up to $45 million in costs specifically for this relocation effort.
- 4These costs are expected to be primarily employee-related and will result in future cash expenditures.
- 5The majority of the $45 million in costs are anticipated to be incurred during fiscal years 2008 and 2009.
- 6This third phase's costs are being managed within the total authorized amount for the overall global restructuring program.
- 7The press release announcing this move is included as an exhibit to the filing.