McKesson said Monday it signed a definitive agreement to acquire a controlling stake in Community Oncology Revitalization Enterprise Ventures LLC, or Core Ventures, for $2.5 billion in cash.
The transaction is subject to regulatory review. McKesson did not say when the deal is expected to close.
Related: McKesson sells European businesses, focuses on U.S. growth
Florida Cancer Specialists & Research Institute, which has more than 500 physicians and advanced practice providers across nearly 100 locations in the state, launched management services organization Core Ventures in January. The acquisition would give Irving, Texas-based drug distributor McKesson 70% ownership of that organization, and Florida Cancer Specialists' physicians would keep a minority interest, according to a news release.
Core Ventures would become part of McKesson's oncology platform. Florida Cancer Specialists would remain independently owned and join McKesson's U.S. oncology network, according to the release.
McKesson employs 51,000 people and operates four segments: U.S. pharmaceuticals, prescription technology solutions, medical-surgical solutions and international operations. Core Ventures' financial results will be reported as part of U.S. pharmaceuticals, a nearly $280 billion division that distributes branded, generic, biosimilar, specialty and over-the-counter drugs.
