SAN FRANCISCO (AP) -- McKesson Corp. said Monday it will acquire US Oncology in an all-cash deal it valued at $2.16 billion.
McKesson, a San Francisco medical company that specializes in pharmaceutical supplies, said it will buy all the outstanding shares of US Oncology. The deal includes US Oncology's outstanding debt, which McKesson said will be repaid or refinanced.
US Oncology is a privately held company based in The Woodlands, Texas. It is affiliated with more than 1,300 oncologists and works with the health care industry in cancer research.
McKesson said the move would increase its reach into the growing cancer-treatment industry.
"McKesson and US Oncology's businesses are highly complementary, providing our collective customers access to more services and solutions that will enhance their ability to deliver advanced cancer care," Paul Julian, McKesson executive vice president and group president, said in a statement.
Bruce Broussard, US Oncology's chairman and CEO, will lead McKesson's specialty care solutions business. He will report to Julian.
US Oncology will continue to operate under its brand name.
McKesson, a San Francisco medical company that specializes in pharmaceutical supplies, said it will buy all the outstanding shares of US Oncology. The deal includes US Oncology's outstanding debt, which McKesson said will be repaid or refinanced.
US Oncology is a privately held company based in The Woodlands, Texas. It is affiliated with more than 1,300 oncologists and works with the health care industry in cancer research.
McKesson said the move would increase its reach into the growing cancer-treatment industry.
"McKesson and US Oncology's businesses are highly complementary, providing our collective customers access to more services and solutions that will enhance their ability to deliver advanced cancer care," Paul Julian, McKesson executive vice president and group president, said in a statement.
Bruce Broussard, US Oncology's chairman and CEO, will lead McKesson's specialty care solutions business. He will report to Julian.
US Oncology will continue to operate under its brand name.
