Healthcare firm Cardinal Health of Dublin, OH, has initiated discussions with Syncor International regarding the possible modification of the terms of their previously announced merger agreement, under which Cardinal Health would acquire the Woodland Hills, CA-based radiopharmaceutical company.
Cardinal Health announced last June that it was planning to buy Syncor in a stock-for-stock transaction worth $1.1 billion. The existing merger agreement calls for Syncor stockholders to receive 0.52 Cardinal Health common shares for each outstanding share of Syncor common stock. On November 6, Cardinal Health revealed that it had uncovered evidence of "questionable payments" during its due diligence process as part of the deal.
Syncor believes that the information it has learned in its investigation of the matter would not result in its failure to satisfy the conditions to the existing merger agreement. However, Syncor cannot make a definitive determination as to the impact on the acquisition pending completion of the investigation and resolution of its discussions with the U.S. Securities and Exchange Commission and Department of Justice, according to the vendor.
Cardinal Health has not yet concluded whether the conditions to the transaction will be satisfied, and believes that there can be no assurance that the transaction involving the acquisition of Syncor will be completed, according to the firm.
By AuntMinnie.com staff writersNovember 21, 2002
Related Reading
'Questionable payments' topped $500,000, Syncor says, November 21, 2002
Syncor expects 10-Q filing delay, November 13, 2002
Cardinal uncovers questionable Syncor payments, November 6, 2002
Syncor debuts radiation emergency kits, October 28, 2002
Syncor, MSU to offer PET cyclotron, October 2, 2002
Copyright © 2002 AuntMinnie.com
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![Examples of ultrasound findings and techniques. (A) Images in a 39-year-old male patient with a mass in the left thigh. The mass is heterogeneous on the B-mode US image (compared with the patient in D) and showed increased microvascularity (superb microvascular imaging [SMI]) and shear-wave elastography (SWE) values. Undifferentiated pleomorphic sarcoma was diagnosed at biopsy (with pleomorphic rhabdomyosarcoma in surgical specimen). (B) Images in an 18-year-old male patient with a mass in the left leg. The mass is hypoechoic on the B-mode image, with no other findings suggestive of malignancy. The lesion is in contact with the cortex of the tibia, which is slightly irregular. CT revealed a doubtful anteromedial tibial erosion. The microvascular study demonstrated high vascularization, suggestive of malignancy. Periosteal Ewing sarcoma was diagnosed with both histologic and immunohistochemical confirmation. (C) Images in a 69-year-old female patient with a lump growing on the outside of the left leg. Multiple SWE examinations were performed (please note the high values obtained in the measurements, whereas the color map highlights the stiffness relative to adjacent tissues). SMI showed areas of increased vascularization to target for sampling. Undifferentiated spindle cell sarcoma was diagnosed at biopsy, with residual leiomyosarcoma in the surgical specimen after neoadjuvant therapy. (D) Images in a 56-year-old female patient with a mass in the right thigh. The mass is heterogeneous at both B-mode ultrasound (similar to patient A) and MRI (coronal T2-weighted spectral attenuated inversion recovery [SPAIR]; T1-weighted pre-contrast and postcontrast imaging), which even shows uptake after the administration of paramagnetic contrast material, which is traditionally suggestive of malignancy. Low values at SMI and elastography are suggestive of benignity. Spindle cell lipoma was diagnosed at biopsy, with atypical spindle cell lipomatous tumor in the surgical specimen.](https://img.auntminnie.com/mindful/smg/workspaces/default/uploads/2026/08/images-radiol250278fig2.APCFLSvX6p.jpg?auto=format%2Ccompress&dpr=2&fit=crop&h=167&q=70&w=250)
