McKesson Corporation, based in Irving, Texas, announced that it entered into an agreement to acquire Community Oncology Revitalization Enterprise Ventures, LLC (Core Ventures) for $2.49 billion, representing approximately 70% ownership.
Core Ventures is a management services organization. It was established by Florida Cancer Specialists & Research Institute, LLC (FCS), a leading physician-owned community oncology practice. FCS is an oncology practice with more than 250 physicians and 280 advanced practice providers, across nearly 100 locations in Florida.
McKesson Corporation distributes pharmaceuticals and provides health information technology, medical supplies and care management tools. The company employs more than 51,000 people. According to its financial earnings report for full year 2023, McKesson’s revenue totaled approximately $276.7 billion, a 4.83% increase from 2022.
Following the close of the transaction, FCS will remain independently owned but will join McKesson’s The US Oncology Network, a leading oncology organization. FCS physicians will continue to retain a minority interest in Core Ventures.
According to data captured in the LevinPro HC database, this acquisition represents the 10th management service organization of 2024. This is also McKesson’s second acquisition of the year. In January, the company purchased Compile, a healthcare data platform, for an undisclosed price.
