McKesson to Buy Majority of Core Ventures for $2.5B - Modern Distribution Management

McKesson to Buy Majority of Core Ventures for $2.5B

To be purchased from Florida Cancer Specialists & Research Institute, it enhances McKesson’s integrated oncology platform.
McKesson

Healthcare and pharmaceutical distributor McKesson Corporation is set to acquire a controlling interest in Community Oncology Revitalization Enterprise Ventures, which does business as Core Ventures.

Announcing a purchase agreement on Aug. 26, McKesson said it will buy approximately 70% of Core Ventures for roughly $2.49 billion in cash.

Core Ventures — a business and administrative services organization — was established by Florida Cancer Specialists & Research Institute (FCS). The company will become part of McKesson’s Oncology platform and financial reports will be disclosed within the U.S. Pharmaceutical segment.

“By growing our Oncology platform, we will bring advanced treatments and improved care experiences to patients, while also reducing the overall cost of care,” McKesson CEO Brian Tyler said in a news release. “FCS and Core Ventures’ expertise and patient-first approach align with our commitment to accelerating clinical development, improving patient outcomes, and expanding access to quality cancer care in the community. We are also pleased to welcome Florida Cancer Specialists & Research Institute to The U.S. Oncology Network, reinforcing our dedication to empowering community-based providers to independently thrive in today’s rapidly evolving healthcare landscape.”

FCS — a practice with more than 250 physicians and 280 practice providers across Florida — will remain independently owned and will join McKesson’s U.S. Oncology Network (The Network). The company will have access to McKesson’s differentiated Oncology platform, including oncology care products and services.

“This is a historic moment for FCS and reflects the evolution of our practice and the forward-thinking of physician leadership, our board, and the entire organization at large,” FCS CEO Nathan H. Walcker said. “The U.S. Oncology Network and FCS share a mission and we both aim to strengthen patient-centered cancer care in the community to improve outcomes.

McKesson — No. 1 on MDM’s Top Distributor’s List for Pharmaceuticals and Healthcare — had a 2023 revenue of $276.7 billion.

Related Posts

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.