McKesson to acquire two oncology companies for $1.2B

McKesson has signed definitive agreements to acquire two oncology companies. The two transactions total $1.2 billion.

The health IT company plans to acquire Vantage Oncology, which provides radiation and medical oncology, and Biologics, an oncology-focused specialty pharmacy.

"These investments will broaden McKesson's practice management services and solutions that allow oncologists to focus on providing excellent patient care and provide additional support solutions that enhance care delivery for patients," said John Hammergren, chairman and CEO of McKesson. "We will also be able to offer additional value-added services to our manufacturer partners, expand our reach and pharmaceutical distribution scale, and provide care management and care coordination for payers as the industry moves towards value-based reimbursement models."

The transactions are subject to customary closing conditions, and McKesson expects the deals to close in the first quarter of fiscal year 2017.

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