McKesson To Acquire Controlling Stake In Florida's Core Ventures For About $2.49 Bln In Cash

(RTTNews) - McKesson Corp. (MCK) announced Monday 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.