McKesson Corp. (NYSE:MCK) signed an agreement to acquire US Oncology for $2.16 billion.
The deal will see San Francisco-based McKesson buy all of US Oncology Inc.’s outstanding shares for cash and assume its debt.
The combination of the two organizations forms a healthcare services and information technology company with approximately 3,000 total physician customers.
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In accordance with the agreement, McKesson will continue to operate the United Network of Woodlands, Texas-based US Oncology, including its Comprehensive Strategic Alliance offering, US Oncology Research and other US Oncology-branded services. US Oncology CEO Bruce Broussard will take the reins of the combined McKesson Specialty Care Solutions business.
“[O]ncology practices need strategic support that offers not only technology and distribution solutions, but also value-added clinical and reimbursement management services that enable them to provide the highest-quality, most efficient care to their patients. With this acquisition, McKesson will offer a compelling suite of services and solutions to community oncologists and other partners in the rapidly evolving specialty business,” said McKesson CEO John Hammergren in prepared remarks.
US Oncology, which is majority-owned by investment firm Welsh, Carson, Anderson & Stowe, and McKesson hope to close the deal by the end of 2010. McKesson expects the purchase to be neutral to its current fiscal year’s earnings per share.
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The Massachusetts Medical Devices Journal is the online journal of the medical devices industry in the Commonwealth and New England, providing day-to-day coverage of the devices that save lives, the people behind them, and the burgeoning trends and developments within the industry.
