McKesson Corporation announced a definitive agreement to acquire a controlling interest in Community Oncology Revitalization Enterprise Ventures, LLC (Core Ventures) for approximately $2.49 billion in cash, representing about 70% ownership. Core Ventures, a business and administrative services organization established by Florida Cancer Specialists & Research Institute (FCS), will join McKesson's expanding oncology platform as the drug distributor strengthens its position in specialty cancer care.
Strategic Expansion in Community Oncology
The acquisition marks a significant milestone in McKesson's efforts to advance community-based oncology care. Following completion of the transaction, Core Ventures will become part of McKesson's Oncology platform, with financial results reported within the company's US Pharmaceutical segment. Florida Cancer Specialists will join The US Oncology Network, McKesson's leading oncology organization dedicated to advancing local and affordable cancer care.
"This milestone marks an important step forward in our efforts to advance community-based oncology care," said Brian Tyler, chief executive officer of McKesson. "By growing our Oncology platform, we will bring advanced treatments and improved care experiences to patients, while also reducing the overall cost of care."
Florida Cancer Specialists' Comprehensive Network
Founded over 40 years ago, Florida Cancer Specialists operates one of the largest physician-owned community oncology practices in the United States. The Fort Myers-based organization employs more than 250 physicians and 280 nurse practitioners and physician assistants across nearly 100 locations throughout Florida. FCS physicians will continue to retain a minority interest in Core Ventures while maintaining independent ownership of their practice.
The practice has evolved to offer comprehensive cancer care services including clinical trials, diagnostic imaging, medical oncology and chemotherapy infusion, integrative therapy, molecular and pathology lab services, radiation oncology, next-generation sequencing, medically integrated dispensing, and data services. FCS currently conducts clinical trials through Sarah Cannon Research Institute (SCRI), recognized as one of the world's leading oncology research organizations conducting community-based clinical trials.
Value-Based Care Model
Florida Cancer Specialists positions itself as a leader in "value-based oncology care," a model where providers assume some or all treatment costs in exchange for lump sum payments from healthcare payers such as government programs. This approach contrasts with traditional fee-for-service models and aims to lower costs by incentivizing providers to treat patients efficiently.
"Above all else, our patients are the true beneficiaries of this transaction, as we seek to drive meaningful outcomes and deliver sustained value with every interaction," said Lucio N. Gordan, MD, president and managing physician of FCS. "Through the power of our combined operational expertise, we can bolster community oncology's role in increasing access to high-quality, affordable care."
Market Context and Competition
The acquisition reflects broader industry consolidation as drug distributors expand their service offerings in specialty care. McKesson's competitors, including Cencora Inc. and Cardinal Health Inc., had also expressed interest in acquiring Florida Cancer Specialists, highlighting the strategic value of community oncology platforms.
McKesson shares have risen 19% this year, giving the Irving, Texas-based company a market value of approximately $71.6 billion. The transaction is subject to customary closing conditions, including necessary regulatory clearances.
Integration with US Oncology Network
Nathan H. Walcker, chief executive officer of FCS, described the partnership as "a historic moment" that reflects the evolution of the practice. By joining The US Oncology Network, FCS will gain access to McKesson's differentiated oncology platform, including best-in-class oncology care products and services.
"The US Oncology Network and FCS share a mission and we both aim to strengthen patient-centered cancer care in the community to improve outcomes," Walcker said. "We are thrilled to partner with McKesson and join The Network, which furthers the joint commitment to bringing the best medicine and innovation for patients into communities across Florida."
