7. Cardinal Health
Dublin, Ohio
2018 revenue: $15,633,000,000
Employees: 49,500
Revenues/employee: $315,818
Fiscal year ending: June 30, 2019
Last year’s rank: 6
Key Personnel:
Michael Kaufmann, CEO, CFO; Victor Crawford, CEO, pharmaceutical; Stephen Mason, CEO, medical; Michele Holcomb, EVP, strategy & corporate development; Ola Snow, chief HR officer; Jessica Mayer, chief legal & compliance officer; Brian Rice, EVP, CIO & customer support services
Description:
Cardinal Health (NYSE:CAH) appears to have a lot of work to do when it comes to its medical segment. Revenue was flat and profits were down for the segment during the company’s most recent fiscal year, which ended June 30. It’s been about four years since Cardinal Health spent $1.94 billion to acquire Cordis from Johnson & Johnson, but the company is still working through challenges related to the maker of stents, balloons and other interventional cardiology products. CEO Mike Kaufmann claimed in an August earnings call that Cordis is on the path to profitability, citing top-line growth in many geographies and improvement in fill rates and back orders. Cardinal Health recently introduced a new sales structure for its medical business and is engaged in a lengthy process of transforming its manufacturing, supply chain and data capabilities. The focus for now is on execution versus M&A around product acquisition, Kaufmann said. The company in August promoted Stephen Mason, previously president of the Cardinal Health At-Home Solutions business, to become CEO of the medical segment. – CN