McKesson Corporation (NYSE: MCK) announced recently that it has 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). FCS physicians will retain a minority interest in Core Ventures.
McKesson will acquire its controlling interest for approximately $2.49 billion in cash, representing about 70% ownership. Upon completion of the transaction, Core Ventures will be integrated into McKesson’s Oncology platform, with financial results reported within McKesson’s US Pharmaceutical segment. The transaction is subject to customary closing conditions, including regulatory approvals. FCS will remain independently owned and join McKesson’s The US Oncology Network, which focuses on advancing local and affordable cancer care.
Brian Tyler, CEO of McKesson, stated, “This milestone marks an important step forward in our efforts to advance community-based oncology care. By growing our Oncology platform, we will bring advanced treatments and improved care experiences to patients, while also reducing the overall cost of care.” He added that FCS and Core Ventures’ expertise aligns with McKesson’s commitment to improving patient outcomes and expanding access to quality cancer care.
FCS, which has been providing cancer care for over 40 years, offers services including clinical trials, diagnostic imaging, medical oncology, chemotherapy infusion, integrative therapy, molecular and pathology lab services, radiation oncology, next-generation sequencing, and medically integrated dispensing. FCS conducts clinical trials through Sarah Cannon Research Institute (SCRI), a leading oncology research organization.
Lucio N. Gordan, MD, president and managing physician of FCS, emphasized that the transaction will benefit patients by increasing access to high-quality, affordable care. Nathan H. Walcker, CEO of FCS, highlighted the alignment between FCS and The US Oncology Network in their mission to enhance patient-centered cancer care in the community.
