McKesson Announces 2 Acquisitions Which Expands Its Oncology Expertise

February 25, 2016 1:46 PM | 1 min read | Make a Comment
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McKesson Corporation
MCKannounced on Thursday 2 separate acquisitions to increase its specialty pharmaceutical distribution scale and oncology-focused pharmacy offerings, solutions for manufacturers and payers, and scope of community-based oncology and practice management services. McKesson acquired Vantage Oncology, a provider of rational oncology, medical oncology and other cancer care. In a second transaction, the company acquired Biologics, the largest independent oncology-focused specialty pharmacy in the U.S. McKesson noted that the value of the 2 transactions totaled $1.2 billion and is expected to be approximately 11 cents accretive to its adjusted earnings per share in fiscal 2017. "McKesson is committed to the success of our community oncology partners and customers and we believe the acquisitions of Vantage and Biologics complement our holistic approach to providing best–in-class care for oncology patients," said John Hammergren, chairman and chief executive officer, McKesson Corporation. "These investments will broaden McKesson's practice management services and solutions that allow oncologists to focus on providing excellent patient care and provide additional support solutions that enhance care delivery for patients. We will also be able to offer additional value-added services to our manufacturer partners, expand our reach and pharmaceutical distribution scale, and provide care management and care coordination for payers as the industry moves towards value-based reimbursement models," concluded Hammergren. Shares of McKesson were trading lower by 0.29 percent at $154.22 mid-Thursday afternoon.
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Posted In: NewsM&ABiologicsHealth CareHealth Care DistributorsMcKessonSpecialty Pharmaceutical CompaniesVantage Oncology
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