Francisco Partners Exits CoverMyMeds for $1.1 Billion

Francisco Partners and McKesson Corp. (NYSE: MCK) are swapping companies again. Back in October 2013, the technology-focused private equity firm acquired McKesson Automation, which offers integrated pharmacy automation products for hospitals and health systems, thus streamlining the delivery of medications. Financial terms were not disclosed. In January 2017, McKesson acquired CoverMyMeds, LLC from Francisco Partners for $1.1 billion, and another $300 million if the company met future financial targets. To make things even cozier, McKesson and CoverMyMeds have partnered together to work with pharmacies since 2010. CoverMyMeds provides electronic prior authorization... Read More »