CD&R and McKesson strike deal to buy infusion provider Option Care Health
What's the deal? Private equity firm CD&RDealroom has a profile for this one. Try Dealroom → and McKesson CorporationDealroom has a profile for this one. Try Dealroom → have agreed to acquire Option Care HealthDealroom has a profile for this one. Try Dealroom →, a US home and ambulatory infusion therapy provider. CD&R will hold a majority interest of roughly 51%, while McKessonDealroom has a profile for this one. Try Dealroom → will invest about $1.4 billion for a minority stake. The total deal value was not disclosed.
What each side does: Option Care Health has spent more than 45 years delivering infusion therapy to patients at home and in community settings. CD&R is a private equity firm with a healthcare services track record; McKesson is a specialty pharmaceuticals distributor.
What's the endgame? McKesson framed the investment as aligning with its strategy to expand access to complex specialty, rare, and orphan therapies in lower-cost settings closer to home. Option Care Health will keep operating as usual, with its current management team in place.
Why now? As specialty therapies grow in importance, their delivery is becoming more complex and costly. "As these therapies continue to grow in importance and their delivery becomes increasingly complex, McKesson is focused on investing in areas where our capabilities can help improve access," said Brian Tyler, chair and chief executive officer of McKesson.
What stockholders get: The deal offers "immediate cash value for our stockholders," said Harry Kraemer, chairman of Option Care Health's board. The board unanimously concluded the transaction "maximizes value" after an extensive review, he added.
The signal: The deal reflects a broader push to move specialised, high-cost care out of hospitals and into homes and communities. By pairing CD&R's healthcare services experience with McKesson's distribution reach, the buyers are betting that home-based infusion is where demand — and growth — is headed.
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