McKesson signed definitive agreements to acquire Manhattan Beach, Calif.-based Vantage Oncology, a radiation and medical oncology provider, and Cary, N.C.-based Biologics, a specialty pharmacy focused on oncology products. The combined transactions are valued at a total of $1.2 billion.
"This combination brings together two highly complementary organizations with closely aligned goals and values,” said Vantage CEO and co-founder Michael Fiore. “By joining together, we will be able to offer an exceptionally broad set of services to patients and physicians, and strengthen our leadership in community-based oncology and value-based cancer care."
“This is a historic moment for our company,” said Biologics CEO Stuart Frantz in the Triangle Business Journal. “I am absolutely thrilled that our team will be joining the McKesson family, who shares our deep commitment to building a strong corporate culture focused on supporting people as individuals and providing better health.”
After the close of the transactions, both Vantage and Biologics will become part of McKesson’s Specialty Health business.
Vantage has more than 50 cancer centers across 13 states. Vantage operates a practice management model through joint ventures and shares profits with their partner physicians and hospitals.
According to the Street Insider, Biologics’ “high-touch specialty pharmacy model provides controlled dispensing channels, including rapid and traceable pharmaceutical delivery solutions, increased analytics, and services for oncology patients, providing seamless care management.”