McKesson Corporation Completes Acquisition of Core Ventures

Business Wire

2 days ago

IRVING, Texas--(BUSINESS WIRE)--McKesson Corporation (NYSE: MCK) announced today that it has completed the acquisition of a controlling interest in Community Oncology Revitalization Enterprise Ventures, LLC (Core Ventures), a business and administrative services organization established by Florida Cancer Specialists & Research Institute, LLC (FCS). The acquisition advances community-based oncology care and enables McKesson to continue to accelerate clinical development, improve patient outcomes, and expand access to quality cancer care in local communities.
McKesson acquired an approximate 70% controlling interest in Core Ventures for about $2.49 billion. FCS physicians retained an approximate 30% interest.
FCS, a practice with more than 250 physicians and 280 advanced practice providers, across nearly 100 locations in Florida, remains independently owned and became a member of McKesson's The US Oncology Network, a leading oncology organization, dedicated to advancing local and affordable cancer care and better patient outcomes.
Cautionary Statement
Except for historical information, statements in this press release regarding McKesson's acquisition and related arrangements constitute 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, that involve risks and uncertainties that could cause actual results to differ materially from those in those statements. It is not possible to identify all such risks and uncertainties. The reader should not place undue reliance on forward-looking statements, which speak only as of the date they are first made. Except to the extent required by law, the company undertakes no obligation to publicly update forward-looking statements. We encourage investors to read the important risk factors described in the company's most recent Form 10-K filed with the Securities and Exchange Commission. These risk factors include, but are not limited to: we may not achieve expected outcomes from the transaction; we from time to time record significant charges from impairment to goodwill, intangibles and other assets or investments; we might be adversely impacted by events outside of our control, such as widespread public health issues, natural disasters, political events, economic events and other catastrophic events.
About McKesson Corporation
McKesson Corporation is a diversified healthcare services leader dedicated to advancing health outcomes for patients everywhere. Our teams partner with biopharma companies, care providers, pharmacies, manufacturers, governments, and others to deliver insights, products and services to help make quality care more accessible and affordable. Learn more about how McKesson is impacting virtually every aspect of healthcare at McKesson.com and read Our Stories.
About McKesson Oncology and Specialty Solutions
It's an unprecedented time for patients living with cancer as life sciences companies race to create new, cutting-edge therapies. With cancer care becoming more targeted, providers, life sciences companies, and payers face a multitude of challenges and complexity in the development of new treatments and making them accessible to patients in need. At McKesson, our unmatched portfolio of oncology businesses and partners provide research, insights, technologies, and services that are helping to address these hurdles and improve cancer and specialty care.
McKesson is fueling discovery by helping patients participate in cutting-edge clinical trials closer to home through its joint venture with Sarah Cannon Research Institute.
The US Oncology Network and McKesson Provider Solutions are advancing specialty care and high-quality cancer care in the communities where patients live by supporting the practices of thousands of independent, community-based providers.
Ontada ®, a McKesson business dedicated to oncology, generates real-world data (RWD) and real-world evidence (RWE), and provides clinical education and provider technology to inform and improve cancer care.
As one of the largest distributors of oncology and specialty medicines, we are ensuring medicines make their way to those who are counting on them.
And through CoverMyMeds, Biologics by McKesson, and GPO services, our work continues to help patients access, afford, and adhere to their medicines.