McKesson Signs Agreement to Acquire Controlling Interest in Florida Cancer Specialists & Research Institute’s Core Ventures

McKesson Corporation (NYSE: MCK) announced today that it signed a definitive agreement to acquire a controlling interest in Community Oncology Revitalization Enterprise Ventures, LLC (Core Ventures). Core Ventures, a business and administrative services organization, was established by Florida Cancer Specialists & Research Institute, LLC (FCS), a leading physician-owned community oncology practice. FCS physicians will continue to retain a minority interest in Core Ventures.

McKesson will purchase its controlling interest for approximately $2.49 billion in cash, which will represent approximately 70% ownership. Following completion of the transaction, Core Ventures will be part of the Oncology platform, and financial results will be reported within McKesson’s US Pharmaceutical segment. The transaction is subject to customary closing conditions, including necessary regulatory clearances. Following the close of the transaction, FCS, a practice with more than 250 physicians and 280 advanced practice providers, across nearly 100 locations in Florida, will remain independently owned and FCS will join McKesson’s The US Oncology Network (The Network), a leading oncology organization, dedicated to advancing local and affordable cancer care and better patient outcomes.

“This milestone marks an important step forward in our efforts to advance community-based oncology care,” said Brian Tyler, chief executive officer, McKesson. “By growing our Oncology platform, we will bring advanced treatments and improved care experiences to patients, while also reducing the overall cost of care. 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 US Oncology Network, reinforcing our dedication to empowering community-based providers to independently thrive in today’s rapidly evolving healthcare landscape.”

FCS has provided exceptional care to cancer patients for over 40 years. During that time, services have grown to include clinical trials, diagnostic imaging, medical oncology and chemotherapy infusion, integrative therapy, molecular and pathology lab services, radiation oncology, next-generation sequencing, medically integrated dispensing, and data services. FCS currently conducts clinical trials through Sarah Cannon Research Institute (SCRI), one of the world’s leading oncology research organizations conducting community-based clinical trials. By joining The Network, FCS will have access to McKesson’s differentiated Oncology platform, including best-in-class oncology care products and services.