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Wednesday, January 30, 2013

Cardinal Health to sell plants in Texas, Illinois, (NYSE: CAH)

Drug wholesaler Cardinal Health Inc said it would sell its procedure kits manufacturing facility in Waukegan, Illinois and its sterilization processes operations in El Paso, Texas as part of a restructuring of its medical business.Cardinal Health will move surgical kit production work from Illinois to plants in Juarez, Mexico and Fort Mill, South Carolina. The restructuring will also include a reorganization of the company's sales operation and marketing teams.The company said it would cut 180 positions as part of the restructuring and take a related charge of about $79 million. The company failed to comment on any impact the restructuring might have on 2013.The company is scheduled to report second-quarter earnings on Feb.5.

Cardinal Health, Inc. is a healthcare services company providing products and services that help pharmacies, hospitals, surgery centers, physician offices and other healthcare providers. Shares of CAH fell by 0.67% or $-0.3/share to $44.68. In the past year, the shares have traded as low as $36.91 and as high as $45.23. On average, 2328160 shares of CAH exchange hands on a given day and today's volume is recorded at 1769554.