CD&R and McKesson Corporation Sign Agreement to Acquire Option Care Health
Key Highlights
- ➤Option Care Health acquisition values company at approximately $5.8 billion enterprise value
- ➤CD&R will own approximately 51%; McKesson (MCK) invests approximately $1.4 billion for 49%
- ➤$32.05-per-share offer represents approximately 37% premium to October 5 closing price
- ➤Transaction expected to close in first half of calendar year 2027, pending approvals
- ➤Option Care Health withdraws 2026 financial guidance and will not host its third-quarter earnings call
Expert Statements
Harry Kraemer, Chairman of the Board of Option Care Health
“We are pleased to have entered into this agreement, which provides immediate cash value for our stockholders.”
Harry Kraemer, Chairman of the Board of Option Care Health
“The Board of Directors completed an extensive assessment, involving thorough discussions with our advisors, and unanimously concluded this transaction maximizes value for our stockholders.”
John C. Rademacher, Chief Executive Officer of Option Care Health
“This transaction represents a great outcome for Option Care Health and our stockholders, and I want to thank our Board of Directors for their rigorous process and diligence.”
John C. Rademacher, Chief Executive Officer of Option Care Health
“For more than 45 years, Option Care Health has helped transform the way infusion therapy is delivered, led by our team members’ unwavering commitment to providing extraordinary care to patients.”
John C. Rademacher, Chief Executive Officer of Option Care Health
“We will continue to enhance our platform and deepen our partnerships with hospitals and health systems, physicians, payers, and biopharma manufacturers.”
John C. Rademacher, Chief Executive Officer of Option Care Health
“We are thrilled to have the support of CD&R and McKesson, empowering us to continue investing strategically and accelerate the pace of our advanced technology deployment to improve clinical outcomes and reduce the total cost of care.”
John C. Rademacher, Chief Executive Officer of Option Care Health
“Both firms understand our business and the healthcare industry, and have proven track records of fostering growth for some of the largest and fastest-growing healthcare service businesses globally.”
Sarah Kim, Partner at CD&R
“Option Care Health has shown what is possible when high-quality infusion therapy is delivered where patients are most comfortable: at home and in their communities.”
Sarah Kim, Partner at CD&R
“We look forward to supporting Option Care Health’s proven management team, together with McKesson and applying CD&R’s deep experience in healthcare services to help Option Care Health bring specialized therapies to more patients across the country.”
Brian Tyler, Chair and Chief Executive Officer of McKesson
“This investment represents an important opportunity that aligns with McKesson’s long-term strategy to expand access and affordability to innovative therapies across the care continuum.”
Brian Tyler, Chair and Chief Executive Officer of McKesson
“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 and advance care in lower-cost community settings, at or closer to home.”
Brian Tyler, Chair and Chief Executive Officer of McKesson
“Option Care Health’s clinical model and national infusion footprint across home and ambulatory sites are well aligned with those priorities, and the company is well positioned for continued growth.”
Brian Tyler, Chair and Chief Executive Officer of McKesson
“As a strategic investor, we look forward to bringing McKesson’s experience and expertise in specialty pharmaceuticals to support Option Care Health’s strategy of broadening access to complex therapies and enabling care delivery in lower-cost settings, while creating long-term value for stakeholders.”
CD&R and McKesson Corporation Sign Agreement to Acquire Option Care Health
CD&R, McKesson Corporation (NYSE: MCK) (“McKesson”), and Option Care Health, Inc. (Nasdaq: OPCH) (“Option Care Health”) announced today that they have entered into a definitive agreement, under which CD&R and McKesson will acquire Option Care Health, an independent provider of home and alternate site infusion services, for $32.05 per share, reflecting a total enterprise value of approximately $5.8 billion. At the closing of the transaction, CD&R will hold a majority ownership interest, and McKesson will hold a minority ownership interest. Option Care Health will remain a separate company led by its own management team.
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