Cardinal Health, a US-based health care services company, has announced the completion of the acquisition of AccessClosure, a manufacturer and distributor of extravascular closure devices in the US.

The $320m acquisition was an all-cash transaction. Cardinal Health expands portfolio of physician preference items that meet increasing demand for high quality, cost-efficient solutions.

Cardinal Health Medical Segment CEO Don Casey noted that the company is excited about the AccessClosure acquisition, because it’s another great example of innovating to provide solutions and cost savings to the health care industry.

"This acquisition is aligned to the company’s targeted growth areas, and we’re looking forward to similar opportunities for further expansion," Casey added.

AccessClosure has annual sales of more than $80m, driven by a direct sales force. The company’s Mynx™ family of vascular closure devices is clinically proven and patient-friendly.

Cardinal Health expects the transaction to have minimal impact on non-GAAP earnings in fiscal year 2014 and to be slightly accretive to non-GAAP earnings in fiscal 2015. Financial results of AccessClosure will be reported as part of the Medical segment.