TREE NEWS reports: McKesson and private equity firm Clayton Dubilier & Rice are close to a deal to acquire Option Care Health, the largest independent US infusion services provider, at an enterprise value including debt of more than $5 billion. Option Care Health entered advanced talks to sell itself after receiving a joint bid from the two. A deal could be reached as early as Tuesday but is not finalized; CD&R would hold 51% and McKesson 49%, with McKesson holding a right to buy CD&R’s stake in the future.
McKesson, CD&R Near Deal to Acquire Option Care Health
The structure is the story here: a 51/49 split with a future buyout right effectively hands McKesson a path to full ownership while keeping the asset off its balance sheet for now, a common private-equity construct for consolidating care-delivery assets. It matters because the largest independent US infusion provider would move under a distributor-plus-PE umbrella, further concentrating home and alternate-site care. The open question is whether the deal closes as reported or the talks lapse, and whether that future call right shapes how Option Care is run in the interim.
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