McKesson to buy controlling stake in Florida Cancer Specialists’ unit for about $2.5 bln, ET HealthWorld

[Pelican Press 0]

This is the hidden content, please

• Sign In
• or
• Sign Up

McKesson to buy controlling stake in Florida ******* Specialists’ unit for about $2.5 bln, ET HealthWorld

data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw==

London: ***** distributor McKesson said on Monday it would buy a controlling stake in community ******* center Florida ******* Specialists & Research Institute’s (FCS) business and administrative services unit for $2.49 billion in cash.

McKesson would own roughly a 70% stake in the unit, Core Ventures, which manages non-clinical administrative functions such as providing operational and advisory support services to FCS clinics across Florida.

The ***** wholesaler has been looking to diversify its specialty services through which it distributes branded, specialty and generic drugs and provide physician management services.

Bloomberg News had reported last month that McKesson and rival ***** distributors Cencora and Cardinal Health were vying to buy FCS.

Shares of Cencora fell 1.4 per cent to $234.52 in early trading.

Community-based oncology represents a “continued strategic focus and investment area” for distributors, Evercore ISI analyst Elizabeth Anderson had written in a note ahead of the announcement of the transaction.

FCS formed Core Ventures earlier this year to partner with distributors to deal with increasing ***** shortages and price increases.

Upon the close of the transaction, FCS would remain independently owned and join McKesson’s network of independent, community-based ******* care centers.

FCS operates in nearly 100 locations across Florida, with more than 250 physicians and 280 nurses and physician assistants.

(Reporting by Mariam Sunny in Bengaluru; Editing by Shilpi Majumdar)

• Published On Aug 27, 2024 at 06:40 AM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw==

Download ETHealthworld App

• Get Realtime updates
• Save your favourite articles

data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw==

data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw==

Scan to download App
data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw==

This is the hidden content, please

• Sign In
• or
• Sign Up

#McKesson #buy #controlling #stake #Florida #******* #Specialists #unit #bln #HealthWorld

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up