McKesson expands oncology expertise with buy of Vantage Oncology and Biologics
Wednesday, March 02, 2016
US healthcare services company McKesson (NYSE: MCK) has signed definitive agreements to purchase Vantage Oncology, a leading national provider of radiation oncology, medical oncology and integrated cancer care, and Biologics Inc, an oncology pharmacy services company.
The combined transactions, valued at $1.2 billion, will be funded by a mix of cash and incremental debt and are expected to close in the first quarter of fiscal 2017, subject to customary closing conditions, including necessary regulatory clearances. Following the close of the transactions, both Vantage and Biologics will become part of McKesson’s Specialty Health business.
McKesson expects the combined impact of these transactions to be approximately $0.11 accretive to adjusted earnings per diluted share in fiscal 2017.
Collectively, these acquisitions will increase McKesson’s specialty pharmaceutical distribution scale, oncology-focused pharmacy offerings, solutions for manufacturers and payers, and scope of community-based oncology and practice management services available to providers and patients.
“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 of McKesson.
Source: thepharmaletter.com
