McKesson, CD&R to take Option Care private in $5.8 billion deal
MCK•McKesson and private equity firm Clayton Dubilier & Rice agreed to take Option Care Health private in a deal valued at about $5.8 billion, including debt. McKesson will invest about $1.4 billion for a 49% stake, and the deal is expected to close in the first half of 2027.
1. Deal terms
The $32.05-per-share offer represents a 37.1% premium to Option Care Health’s last closing price. McKesson will hold a 49% minority interest and has the right to purchase the remaining 51% from CD&R in the future.
2. Option Care’s business
Option Care Health is the largest independent infusion therapy provider in the United States, serving more than 308,000 patients annually through over 197 locations. It provides home and ambulatory infusions, specialty pharmacy and care for complex conditions.
3. McKesson expansion
McKesson said the deal aligns with its focus on specialty and community-based care. Its oncology and multispecialty segment, which includes infusion services, recorded revenue of $14.2 billion in its latest quarter, up 33% from a year earlier. Option Care will remain a separate company led by its own management team until it becomes privately held.
