HQ Team
August 27, 2024: McKesson Corporation, the ninth-largest company by revenue in the US, will acquire Community Oncology Revitalization Enterprise Ventures, for $2.4 billion in cash to expand its oncology portfolio.
Community Oncology Revitalization Enterprise Ventures also known as Core Ventures are a business and administrative services organization established by Florida Cancer Specialists & Research Institute, LLC (FCS), a leading physician-owned community oncology practice.
McKesson will own about 70% stake and the FCS physicians will continue to retain a minority interest in the company, according to a McKesson statement.
After 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.
‘Evolving healthcare landscape’
“This milestone marks an important step forward in our efforts to advance community-based oncology care,” said Brian Tyler, chief executive officer of McKesson.
The acquisition “reinforces our dedication to empowering community-based providers to independently thrive in today’s rapidly evolving healthcare landscape.”
McKesson partners 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.
Headquartered in Irving, Texas, the company is the largest healthcare company in the US. It clocked revenue of $308.9 billion in 2024.
Reduction in cost
The company delivers a third of all pharmaceuticals used in North America and employs over 51,000 employees.
McKesson’s oncology businesses and partners provide research, insights, technologies, and services.
“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,” Tyler said.
