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Share Name | Share Symbol | Market | Type |
---|---|---|---|
US Oncology (MM) | NASDAQ:USON | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0 | - |
McKesson Corp. (MCK) said it will buy privately held oncology-services company US Oncology Inc. in a deal valued at about $2.16 billion, including the assumption of debt.
Cancer fighting is one of the biggest growth segments in the broader health care industry.
McKesson--the nation's biggest distributor of pharmaceutical products--and US Oncology have targeted a closing date by Dec. 31, and in connection with the deal, they expect substantially all of US Oncology's debt will be either repaid or refinanced.
The deal isn't expected to have an effect on McKesson's bottom line this fiscal year, which ends in March, but boost profit in the coming year.
Buying US Oncology should allow McKesson to help determine the most effective treatments for a patient.
Last week, McKesson said its fiscal second-quarter profit jumped 8.6% as the company's revenue increased, though the bottom line was skewed by items such as write-downs.
Shares of McKesson closed at $65.98 on Friday and were inactive premarket. The stock has risen 5.6% so far this year.
-By Nathan Becker, Dow Jones Newswires; 212-416-2855; nathan.becker@dowjones.com
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