Tue, Jun. 28, 9:42 AM
- Drug distributor McKesson (MCK +2.6%) announces that it will combine its Technology Solutions unit with tech firm Change Healthcare Holdings to create a new healthcare information technology company with pro forma annual revenues of $3.4B. McKesson will own ~70% of the combined entity while Change will own ~30%.
- $6.1B in debt will fund the transaction, including $2.7B to retire existing Change Healthcare debt, $1.25B in cash payments to McKesson and $1.75B in cash payments to Change stockholders. The remainder will be used for transaction-related expenses. Annual synergies are expected to be more than $150M by the second year.
- The combined company will deliver a broad range of solutions aimed at lowering healthcare costs, improving patient access and outcomes and simplifying the transition to value-based care for providers, payers and consumers.
- McKesson will transfer the majority of its McKesson Technology Solutions businesses to the venture, except RelayHealth Pharmacy and its Enterprise Information Solutions (EIS) unit. The company also announced today that it intends to explore strategic alternatives for the EIS business.
Tue, Jun. 21, 5:06 AM
- Drug distributor McKesson (NYSE:MCK) has held talks about merging its information technology unit, called Technology Solutions, with Change Healthcare, Reuters reports.
- A combination would create one of the biggest players in the healthcare information technology sector, potentially worth more than $10B, including debt.
Wed, Mar. 2, 8:56 AM| Wed, Mar. 2, 8:56 AM | 1 Comment
Thu, Feb. 25, 3:16 PM
- Mega drug distributor McKesson (MCK) agrees to acquire two privately held medical firms that focus on the oncology space for a total of $1.2B.
- Manhattan Beach, CA-based Vantage Oncology, LLC, is a national provider of radiation oncology, medical oncology and integrated cancer care services.
- Cary, NC-based Biologics, Inc. provides oncology pharmacy services.
- The transactions, expected to close in fiscal Q1 2017 (calendar Q2), should add $0.11 to non-GAAP EPS in fiscal '17.
Sep. 18, 2015, 6:58 AM
- McKesson (NYSE:MCK) announces it acquired the pharmaceutical division of UDG Healthcare for $408M.
- The transaction will need to be cleared by the European Union before closing in the first half of next year.
- The company expect a positive impact on earnings per share of $0.12 to $0.14 for the 12 months after closing.
Apr. 30, 2015, 4:08 PM
- According to Bloomberg, the list of firms that have indicated an interest in Omnicare (NYSE:OCR) include Express Scripts (NASDAQ:ESRX), CVS Health (NYSE:CVS), Walgreens Boots Alliance (NASDAQ:WBA) and McKesson (NYSE:MCK). Initial bids for the $8.5B market cap firm are due in May.
- Previously: Omnicare reportedly exploring sale; trading halted (April 22)
- Previously: Omnicare buyer would need to pay $95/share - UBS (April 23)
Mar. 9, 2015, 3:34 PM
- Privately-held Intelligent Hospital Systems (IH Systems) acquires AmerisourceBergen Technology Group (ABTG) for an undisclosed sum. The combined companies will operate under the name ARxIUM.
- The new organization will be the most integrated pharmacy technology firm in the industry. Top products include IH Systems' RIVA technology, the only fully automated IV compounding system on the market, and ABTG's workflow and scheduling software.
- ARxIUM will operate out of Winnipeg, Manitoba and Buffalo Grove, IL.
- Related tickers: (ABC +1.3%)(MCK +0.5%)(CAH +1.2%)
Jan. 23, 2014, 5:07 PM
- McKesson (MCK) reaches an agreement to buy Celesio (CAKFF) just 10 days after a failed tender offer for the rival company.
- MCK acquires majority owner Franz Haniel & Cie's entire holding in Celesio for €23.50/share, the same price as its previous bid, and purchases Celesio convertible bonds from hedge fund Elliott Management; the moves provide MCK with more than 75% ownership of Celesio’s shares.
- MCK has been seeking to expand, and Celesio has 132 wholesale branches supplying 65,000 pharmacies and hospitals across Europe.
- MCK +2.9% AH.
Jan. 23, 2014, 8:17 AM
- Franz Haniel & Cie, which owns 50.01% in Celesio (CAKFF), could be trying to revive the sale of the German drug distributor to Mckesson (MCK) after the U.S. company fell short of gaining shareholder acceptance for the deal last week.
- Reuters reports that Haniel has offered Elliott €23.50 for its shares - the same amount that Mckesson bid - although it's not clear how much Haniel would pay for the hedge fund's convertible bonds in Celesio.
- It's also not clear if Haniel is acting as an intermediary for McKesson.
- On a fully diluted basis, including convertibles, Haniel owns 41.8% in Celesio and Elliot 26.7%.
- McKesson needed shareholder acceptance representing 75% of Celesio's voting rights for its bid to be authorized.
Jan. 13, 2014, 2:18 PM
- "We naturally expected shares would decline following the disappointing news," FBR's Tom Gallucci says of McKesson (MCK -4.8%), in the wake of the company's failed bid for Celesio (CAKFF).
- Nevertheless, Gallucci says MCK is "well positioned going forward [as] the company's core operations have been the best performing in the sector over the past year."
- Outperform rating maintained.
Jan. 13, 2014, 1:04 PM
- Reopened for trade, McKesson (MCK -6.7%) gives back about all of last week's gains following its failed bid for Celesio (CAKFF -1%).
- CEO John Hammergren: "We are well positioned and will continue to explore and evaluate opportunities to further strengthen our businesses through our disciplined approach to capital allocation.”
Jan. 13, 2014, 12:59 PM
Jan. 9, 2014, 7:03 AM
- As flagged, McKesson (MCK) has increased its bid for German peer Celesio (CAKFF) to €23.50 a share from €23 as it looks to win support for the deal from Elliott Management.
- The U.S. hedge fund, which owns almost 25% of Celesio, had opposed the original offer as being too low but has agreed to sell its convertible bonds to McKesson.
- The tender offer is now valued at around €4B ($5.4B) and expires at midnight tonight in Frankfurt. McKesson has made its proposal conditional on obtaining at least 75% of Celesio's shares. (Previous) (PR)
Jan. 9, 2014, 3:52 AM
- McKesson (MCK) has reportedly increased its bid for German peer Celesio to €23.50 a share from €23 in order to try to persuade hedge fund Elliot International to support the offer from the U.S. drugs wholesale group.
- Elliot, which owned a 22.7% voting stake in Celesio as of late December, rejected McKesson's initial proposal as being too low.
- McKesson has made its offer conditional on obtaining at least 75% of Celesio's shares by tonight. It has already agreed to buy 50.01% from diversified holding company Franz Haniel & Cie. (Previous)
Jan. 8, 2014, 8:57 AM
- McKesson (MCK +2.3%) is reportedly preparing to offer concessions to hedge fund Elliott International so that the latter will support the U.S. pharmaceutical distributor's $8.3B bid for German peer Celesio.
- McKesson has made its proposal conditional on obtaining at least 75% of Celesio's shares - including those from the convertible debt - by tomorrow night. McKesson has already agreed to buy 50.01% of Celesio from diversified holding company Franz Haniel & Cie.
- As of late December, Elliot owned a 22.7% voting stake in Celesio.
Dec. 25, 2013, 1:30 PM
- "We believe the most likely way this happens is for McKesson (MCK) and Elliott (or their intermediaries) to find a common ground whereby MCK raises its bid subject to Elliott agreeing to tender all of its holdings," Deutsche's George Hill says, referencing MCK's offer for Celesio.
- Hill thinks that after the "tough talk" is over and the deal is done, the potentially sweetened bid "could shave $0.15-0.20 off of MCK's fully consolidated near-term deal accretion estimates of $1.00-1.25."
- "MCK shares likely have 10% downside risk if the deal breaks to $140-145 per share," Hill adds.
- For more, see here.
McKesson Corp. is a health services and information technology company, which provides medicines, pharmaceutical and care management products. It operates through two segments: McKesson Distribution Solutions and McKesson Technology Solutions. The McKesson Distribution Solutions segment... More
Industry: Drugs Wholesale
Country: United States
Other News & PR