Cardinal Health vs Procter & Gamble: Founders, CEOs and History

Company facts

Founders

CEOs and their tenures

Timeline: Cardinal Health and Procter & Gamble side by side

1. 1837Procter & Gamble

   Company Founded in Cincinnati

   William Procter and James Gamble sign a partnership agreement on October 31, 1837, establishing Procter & Gamble in Cincinnati, Ohio, with combined capital of approximately 7,192 dollars.

2. 1862Procter & Gamble

   Civil War Army Contracts Fuel Expansion

   P&G wins contracts to supply the Union Army with soap and candles, generating significant revenue that enables manufacturing expansion and introduces millions of American soldiers to P&G products for the first time.

3. 1882Procter & Gamble

   Ivory Soap Launches Nationally

   Harley Procter and James Norris Gamble introduce Ivory soap, promoted as 99 and 44/100 percent pure and notable for its floating characteristic.

4. 1890Procter & Gamble

   Company Incorporates and Expands Nationally

   Procter & Gamble incorporates in Ohio with capital of 4.5 million dollars and begins building manufacturing capacity outside Cincinnati, establishing the operational infrastructure for national distribution that the Ivory soap advertising campaign had created…

5. 1911Procter & Gamble

   Crisco Shortening Introduced

   P&G launches Crisco vegetable shortening, the first hydrogenated vegetable oil product marketed to American consumers as an alternative to lard and butter.

6. 1931Procter & Gamble

   Brand Management System Invented

   P&G executive Neil McElroy writes a famous internal memo proposing that each brand have its own dedicated management team responsible for competing against all rivals including other P&G brands.

7. 1946Procter & Gamble

   Tide Detergent Launches

   P&G introduces Tide synthetic detergent, which rapidly becomes the best-selling laundry product in the United States and establishes the template for all future P&G brand development: superior product performance, heavy consumer advertising, and sustained mark…

8. 1961Procter & Gamble

   Pampers Diapers Introduced

   P&G introduces Pampers disposable diapers, transforming the infant care category and creating what will become one of the company's most globally significant brands.

9. 1971Cardinal Health

   Cardinal Foods Founded by Robert D. Walter

   Robert D. Walter, a 26-year-old Harvard MBA graduate, borrowed $1.3 million to acquire the food-distribution division of Consolidated Foods in a leveraged buyout, establishing Cardinal Foods in Columbus, Ohio.

10. 1979Cardinal Health

    Pivot to Pharmaceutical Distribution

    Walter acquired Bailey Drug Co., a pharmaceutical distributor in Zanesville, Ohio, marking Cardinal's entry into pharmaceutical distribution.

11. 1983Cardinal Health

    Cardinal Distribution Goes Public

    Cardinal Distribution Inc. completed its initial public offering on the NASDAQ at $1.03 per share, providing capital for continued expansion through acquisitions.

12. 1984Cardinal Health

    Acquisition of Ellicott Drug

    Cardinal acquired Ellicott Drug, a pharmaceutical distributor in Buffalo, New York, continuing the acquisition-driven expansion strategy that would define the company's growth for decades.

13. 1988Cardinal Health

    Sale of Food Operations to Roundy's Inc.

    Cardinal sold its remaining food operations to Roundy's Inc., completing the company's transition from a diversified food and drug distributor to a pure-play pharmaceutical distribution company.

14. 1994Cardinal Health

    Name Change to Cardinal Health

    The company changed its name from Cardinal Distribution to Cardinal Health, reflecting its expanding mission beyond pure distribution into healthcare services, manufacturing, and technology. Revenues exceeded $1 billion by 1991.

15. 1995Cardinal Health

    Acquisition of Medicine Shoppe International

    Cardinal acquired Medicine Shoppe International, the country's largest franchise of retail pharmacies, marking the company's first significant non-distribution acquisition and entry into retail pharmacy.

16. 1996Cardinal Health

    Acquisition of Pyxis Corp.

    Cardinal acquired Pyxis Corp., a manufacturer of automated supply and pharmaceutical dispensing systems for hospitals, adding medical technology capabilities to the company's portfolio.

17. 1999Cardinal Health

    Acquisition of Allegiance Healthcare Corp.

    Cardinal acquired Allegiance Healthcare Corp. for approximately $4.4 billion, becoming a major player in the medical-surgical products market and establishing the foundation for what would become the Global Medical Products and Distribution segment.

18. 2005Procter & Gamble

    Gillette Acquired for 57 Billion Dollars

    P&G completes the acquisition of Gillette Company for approximately 57 billion dollars in an all-stock transaction, adding Gillette razors, Braun appliances, Oral-B dental products, and Duracell batteries to the P&G portfolio.

19. 2013Cardinal Health

    Red Oak Sourcing Joint Venture with CVS

    Cardinal Health and CVS Caremark announced the creation of Red Oak Sourcing, a 50/50 joint venture to form the largest generic pharmaceutical sourcing entity in the United States. The venture began operations in July 2014 with an initial 10-year term.

20. 2014Cardinal Health

    Loss of Walgreens Contract

    Cardinal Health lost a major pharmaceutical distribution contract with Walgreens, which shifted its distribution to AmerisourceBergen. The contract had generated $3.3 billion in quarterly revenue.

21. 2014Procter & Gamble

    Portfolio Transformation Announced

    CEO A.G. Lafley announces P&G's plan to divest more than 100 brands and focus the company on approximately 80 core brands in ten product categories.

22. 2017Cardinal Health

    Acquisition of Patient Recovery Business from Medtronic

    Cardinal Health acquired the Patient Recovery business from Medtronic for $6.1 billion, expanding its medical products portfolio and adding significant scale to the Global Medical Products and Distribution segment.

23. 2019Procter & Gamble

    Portfolio Simplification Completed

    P&G completes the brand portfolio simplification, having divested more than 100 brands and consolidated around approximately 65 core brands.

24. 2024Cardinal Health

    OptumRx Contract Non-Renewal Announced

    Cardinal Health's pharmaceutical distribution contracts with OptumRx (part of UnitedHealth Group) expired at the end of June 2024 and were not renewed. They represented about $38.1 billion of fiscal 2024 revenue.

25. 2024Procter & Gamble

    Fiscal Year 2024 Net Sales Reach Approximately 84 Billion Dollars

    P&G reports fiscal year 2024 net sales of $84.0 billion and net earnings attributable to P&G of about $14.9 billion, and raises its quarterly dividend 7% to $1.0065 per share, its 68th consecutive annual increase.

26. 2025Cardinal Health

    Fiscal 2025 Results and Raised FY2026 Guidance

    Cardinal Health reported fiscal 2025 revenue of $222.6 billion, down about 2% after the OptumRx contract expiration, while net earnings rose to about $1.6 billion.

27. 2026Cardinal Health

    Fiscal 2026 Revenue Reaches $254.2 Billion

    Fiscal 2026 revenue rose 14% to $254.2 billion and non-GAAP EPS rose 37% to $11.26, with profit growth in all five operating segments.

Acquisitions

Questions about Cardinal Health vs Procter & Gamble