McKesson, a prominent healthcare services company, has recently announced its plans to acquire a controlling interest in Community Oncology Revitalization Enterprise Ventures (Core Ventures) for approximately $2.49 billion. Core Ventures, established by Florida Cancer Specialists and Research Institute, is a business and administrative services organization that aims to support community oncology practices.
Under the terms of the agreement, McKesson will hold a controlling interest representing around 70% ownership in Core Ventures. Following the completion of the transaction, Core Ventures will become a part of McKesson’s Oncology platform, with financial results being reported within the company’s U.S. Pharmaceutical segment.
The acquisition will have a significant impact on the landscape of community oncology care. Florida Cancer Specialists, which boasts a network of more than 250 physicians and 280 advanced practice providers across nearly 100 locations in Florida, will retain its status as an independently owned entity. Additionally, Florida Cancer Specialists will join McKesson’s U.S. Oncology Network, further expanding the reach and capabilities of both organizations.
The transaction is still subject to customary closing conditions, including regulatory clearances. Florida Cancer Specialists has evolved over the years to offer a comprehensive range of services, including clinical trials, diagnostic imaging, medical oncology, chemotherapy infusion, integrative therapy, molecular and pathology lab services, radiation oncology, sequencing, medically integrated dispensing, and data services.
McKesson’s CEO, Brian Tyler, expressed optimism about the acquisition, highlighting the potential to enhance patient care, reduce costs, and advance community-based oncology services. The collaboration between McKesson and Florida Cancer Specialists reflects a shared commitment to improving outcomes and expanding access to high-quality, affordable cancer care in local communities.
In a larger trend within the healthcare industry, initiatives like the Center for Medicare and Medicaid Innovation’s Enhancing Oncology Model are aimed at reducing spending and enhancing care quality for cancer patients. These models incentivize physician groups to take accountability for patient outcomes and total healthcare spending during specific episodes of care.
Dr. Lucio N. Gordon, president and managing physician at Florida Cancer Specialists, emphasized the benefits for patients resulting from the transaction, highlighting the potential to drive meaningful outcomes and deliver sustained value. Nathan H. Walcker, CEO of Florida Cancer Specialists, also expressed enthusiasm about the partnership with McKesson and joining The US Oncology Network, emphasizing the shared mission to improve patient-centered cancer care in local communities.
Overall, the acquisition of Core Ventures by McKesson represents a significant milestone in advancing community-based oncology care and underscores the importance of collaboration and innovation in the healthcare industry. The partnership between McKesson and Florida Cancer Specialists holds promise for enhancing patient outcomes and expanding access to high-quality cancer care across Florida.
