McKesson Corp. announced it completed its acquisition of US Oncology for about $2.2 billion after a last-minute legal challenge threatened to delay the deal. The acquisition, which includes repayment or assumption of US Oncology's debt, was first announced in November. McKesson, a healthcare information technology and pharmaceutical distributor, paid roughly $415 million in cash on close of the deal, according to a news release. Private-equity firm Welsh, Carson, Anderson & Stowe previously owned US Oncology. McKesson is expected to gain market share in specialty product distribution with the US Oncology acquisition, according to a Citigroup analysis released when the deal was announced. Bruce Broussard, US Oncology CEO, will oversee McKesson's specialty-care solutions operations from the Woodlands, Texas. Cancer Clinics of Excellence, Scottsdale, Ariz., filed a complaint alleging that McKesson violated an agreement not to invest in another physician network until the end of 2011, which had raised questions whether the deal would close by Dec. 31. J. Ike Nicoll, president and CEO of CCE, said the companies reached an agreement Wednesday and that CCE withdrew its complaint. Terms of the agreement were sealed.
Late News: McKesson Corp. completes US Oncology acquisition
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