BY Fraser Tennant
In a transaction that enhances its integrated oncology platform, healthcare company McKesson is to acquire a controlling stake in community cancer centre Florida Cancer Specialists & Research Institute’s (FCS) business and administrative services unit for $2.49bn in cash.
Under the terms of the definitive agreement, McKesson will own an approximate 70 percent stake in the unit, Core Ventures, which manages non-clinical administrative functions such as providing operational and advisory support services to FCS clinics. FCS physicians will continue to retain a minority interest in Core Ventures.
Dedicated to advancing health outcomes for patients everywhere, McKesson’s teams partner with biopharma companies, care providers, pharmacies, manufacturers, governments and others to deliver insights, products and services to help make quality care more accessible and affordable.
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, a leading oncology organisation, dedicated to advancing local and affordable cancer care and better patient outcomes.
“This acquisition marks an important step forward in our efforts to advance community-based oncology care,” said Brian Tyler, chief executive of 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,” he continued. We are also pleased to welcome FCS to The US Oncology Network, reinforcing our dedication to empowering community-based providers to independently thrive in today’s rapidly evolving healthcare landscape.”
The transaction is subject to customary closing conditions, including necessary regulatory clearances.
Lucio N. Gordan, president and managing physician at FCS, concluded: “Our patients are the true beneficiaries of this transaction as we seek to drive meaningful outcomes and deliver sustained value with every interaction. Through the power of our combined operational expertise, we can bolster community oncology's role in increasing access to high-quality, affordable care.”
News: McKesson to buy controlling stake in Florida Cancer Specialists' unit for about $2.5 billion