Cardinal Health (CAH Quick QuoteCAH - Free Report) recently announced a definitive agreement to acquire Solaris Health, the nation’s largest urology management services organization (MSO), in a deal valued at $2.4 billion. It will invest approximately $1.9 billion in cash for a 75% stake in Solaris through its multi-specialty MSO platform, The Specialty Alliance, with the remaining equity held by physician owners and management.

The transaction, expected to be closed by year-end pending regulatory and physician approvals, will add over 750 providers across 250 locations in 14 states, expanding The Specialty Alliance’s reach to roughly 3,000 providers in 32 states.

Expands High-Growth Urology Platform

This move is more than just geographic expansion — it is a targeted bet on urology as a high-growth specialty. Solaris Health’s diversified revenue model spans ancillary services, such as pathology, laboratory testing, anesthesia and diagnostic imaging. The acquisition builds on Cardinal Health’s recent spree of urology-focused purchases, including Urology America, Potomac Urology, and Academic Urology & Urogynecology, creating a scaled Urology Alliance within The Specialty Alliance.

CEO Jason Hollar described urology as a “sweet spot” for Cardinal Health, aligning with its broader specialty strategy in autoimmune, oncology and urology. By integrating Solaris with existing capabilities from Specialty Networks, Nuclear & Precision Health Solutions, and At-Home Solutions, CAH expects to strengthen physician engagement, enhance patient access and leverage cross-platform synergies. The deal is projected to be slightly accretive to non-GAAP EPS in the first year post-closure.

Beyond financial lift, the acquisition reinforces Cardinal’s position as a physician-aligned partner delivering integrated specialty care. With urology therapeutic innovation on the rise, management sees Solaris as a catalyst for sustained specialty growth, driving scale, service breadth and recurring revenue streams that can support long-term margin expansion.

Acquisition Deals by Peers

McKesson (MCK Quick QuoteMCK - Free Report) has been active in strategic specialty healthcare acquisitions, recently completing its purchase of a controlling 70% stake in Core Ventures for approximately $2.49 billion. This move expands McKesson’s oncology MSO services in partnership with Florida Cancer Specialists and aligns with the company’s goal of strengthening its specialty care presence. In a separate deal, McKesson acquired an 80% stake in PRISM Vision Holdings for around $850 million, integrating ophthalmology and retina services into McKesson’s specialty clinical portfolio, further solidifying its leadership in high-growth clinical platforms.

DaVita’s (DVA Quick QuoteDVA - Free Report) recent acquisition activity has been more targeted, acquiring one dialysis center in the United States and one internationally in the first quarter of 2025, followed by another U.S.-based dialysis center in the second quarter. These modest acquisitions are consistent with DaVita’s steady expansion within kidney care. Additionally, DaVita’s planned acquisition of Brasnefro in Brazil is under review by Brazil’s antitrust authority, CADE, reflecting regulatory scrutiny over DaVita’s international growth strategy.

For UnitedHealth Group (UNH Quick QuoteUNH - Free Report) , the most notable transaction is its Optum unit’s $3.3 billion bid to acquire Amedisys, a home health and hospice provider, per a Reuters article. UnitedHealth has extended the closing deadline to the end of 2025 amid ongoing regulatory review, highlighting both the strategic importance and competitive concerns surrounding the deal. As part of a settlement with the U.S. Justice Department, UnitedHealth will divest 164 home health and hospice locations to address antitrust issues while continuing its push to expand home-based care capabilities.