Updated version 2 - McKesson and CD&R will privatize infusion therapy service provider Option Care in a $5.8 billion deal.

Added detailed information about ownership and background in the full text

Sneha S K

Reuters, October 6 - Pharmaceutical distributor McKesson (MCK.N) and private equity firm Clayton Dubilier & Rice reached an agreement on Tuesday to take private infusion therapy provider Option Care Health (OPCH.O) in a deal valued at approximately $5.8 billion (including debt).

The acquisition offer of $32.05 per share represents a 37.1% premium to Option Care’s most recent closing price.

As a U.S. pharmaceutical distributor, McKesson has been working to expand its healthcare services portfolio. This deal marks its latest move and also represents another acquisition of a home health services provider by a private equity firm, following Enhabit (link).

Option Care Health is the largest independent infusion therapy provider in the United States, serving more than 308,000 patients annually through over 197 service locations, including home and outpatient infusions, specialty pharmacy, and care for complex conditions.

With an aging population and more patients choosing treatment outside hospitals and other high-cost medical settings, demand for home healthcare continues to grow in the U.S.

After the deal is completed, CD&R will hold a majority stake, while McKesson will hold a minority stake. Option Care Health will continue to operate as an independent company, led by its own management team.

Under the terms of the deal, McKesson will invest approximately $1.4 billion for a 49% stake and retain the right to purchase the remaining 51% stake from CD&R at a future date.

According to a report by Leerink Partners analyst Michael Cherny on Monday evening, the transaction allows McKesson to align with the trend of shifting care delivery from hospitals and health facilities to alternative sites.

In addition, as McKesson currently operates Inviva, Canada's leading infusion and injection network, this deal will further expand its U.S. home infusion service footprint.

McKesson’s oncology and multi-specialty division (including infusion services) generated $14.2 billion in revenue in the latest quarter, up 33% year-over-year, thanks to specialty pharmaceuticals distribution and acquisition contributions.

The deal is expected to close in the first half of 2027, at which point Option Care Health will become a private company.

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