McKesson said on 25 August it had signed a definitive agreement to acquire Precision Medicine Group, a provider of clinical research and biopharma commercialisation services, for about $2.25bn.
Why McKesson Corporation is buying Precision Medicine Group
McKesson said the business would enhance its clinical research and commercialisation services, strengthen clinical trial execution and broaden its clinical service offering as part of its oncology and multispecialty strategy.
“This acquisition represents another meaningful step in advancing our oncology and multispecialty strategy”
Deal terms and financing
McKesson did not give further financial details. Precision Medicine Group will report within the Oncology & Multispecialty segment after completion.
Regulatory approvals and timing
Completion is subject to customary closing conditions, including regulatory clearances.
Market context
Precision Medicine Group is headquartered in Bethesda, Maryland, with further operations in Frederick. Its services span biomarker intelligence, laboratory work, a global CRO, market access consulting and commercialisation support.
