McKesson to acquire 70% stake in Core Ventures for $2.5bn to expand oncology platform

In a strategic move to bolster its presence in community-based oncology care, McKesson Corporation (NYSE: MCK) has signed a definitive agreement to acquire a controlling interest in Community Oncology Revitalization Enterprise Ventures, LLC (Core Ventures). This acquisition, valued at approximately $2.49 billion, will give McKesson a 70% ownership stake in Core Ventures, a business and administrative services organization founded by Florida Cancer Specialists & Research Institute, LLC (FCS). Despite this transaction, FCS physicians will continue to retain a minority interest in the company.

Core Ventures, which serves as a key administrative arm for FCS, is expected to enhance McKesson’s Oncology platform significantly. Once the transaction is completed, Core Ventures will be integrated into McKesson’s US Pharmaceutical segment, contributing to the company’s financial performance in this area. The deal is currently subject to standard regulatory clearances and other closing conditions.

FCS, which has a longstanding reputation for excellence in cancer care, operates across nearly 100 locations in Florida with a team of over 250 physicians and 280 advanced practice providers. The organization offers a comprehensive range of services, including clinical trials, diagnostic imaging, medical oncology, radiation therapy, and next-generation sequencing. FCS’s partnership with Sarah Cannon Research Institute, one of the leading oncology research organizations globally, underscores its commitment to cutting-edge cancer treatment and research.

This acquisition is seen as a significant step forward in McKesson’s strategy to expand its Oncology platform, with a focus on providing advanced treatments and improving patient outcomes while also aiming to reduce the overall cost of care. Brian Tyler, CEO of McKesson, emphasized that the addition of Core Ventures and FCS to The US Oncology Network will enhance the company’s ability to deliver high-quality, affordable care in the community setting.

“This milestone marks an important step forward in our efforts to advance community-based oncology care,” said Tyler. “By growing our Oncology platform, we will bring advanced treatments and improved care experiences to patients, while also reducing the overall cost of care.”

For FCS, this partnership with McKesson and integration into The US Oncology Network represents a historic evolution of their practice. Nathan H. Walcker, CEO of FCS, highlighted the shared mission between FCS and The Network to strengthen patient-centered cancer care in the community. Lucio N. Gordan, MD, President and Managing Physician of FCS, also pointed out that patients are the true beneficiaries of this transaction, which aims to improve access to high-quality cancer care across Florida.

The acquisition aligns with broader trends in the healthcare industry, where large healthcare corporations are increasingly investing in community-based care models to deliver more localized and personalized care to patients. McKesson’s acquisition of Core Ventures is a testament to the growing importance of such models in oncology, particularly in delivering specialized and integrated care to cancer patients in community settings​.