McKesson launched an exchange offer, which gives its shareholders an opportunity to swap all or a portion of their McKesson shares for Change Healthcare shares.
The exchange offer is the next step in McKesson's decision to end its partnership with Change.
"We are very pleased to launch the split-off of our investment in Change Healthcare. We have concluded that now is the appropriate time to distribute our remaining stake in Change Healthcare," said Brian Tyler, chief executive officer, McKesson. "This transaction better positions McKesson to focus on our core business and signifies another important step in McKesson’s transformation to become a simpler, more focused organization."
The exchange offer will expire March 9.