McKesson to acquire Precision Medicine Group for US$2.25B to expand clinical research services
McKesson expects the acquisition to strengthen its oncology and multi-specialty strategy while broadening the services it provides to biopharmaceutical companies.
USA—Healthcare services provider McKesson has agreed to acquire Precision Medicine Group for US$2.25 billion in a deal aimed at expanding its clinical research and biopharmaceutical commercialization capabilities.
McKesson expects the acquisition to strengthen its oncology and multi-specialty strategy while broadening the services it provides to biopharmaceutical companies.
Following completion of the transaction, Precision Medicine Group will become part of McKesson’s oncology and multi-specialty segment.
The transaction remains subject to customary closing conditions, including applicable regulatory approvals. McKesson did not indicate when it expects to close the deal.
Precision Medicine Group provides clinical research and commercialisation services to biotechnology and pharmaceutical companies worldwide.
The company combines specialised expertise with technology-enabled solutions to support customers across different stages of drug development and commercialisation.
Expanding biopharmaceutical capabilities
Its portfolio includes biomarker intelligence, laboratory services, global clinical research organisation capabilities, market access consulting and commercialisation support.
These services enable biopharmaceutical companies to advance clinical programmes, conduct trials and prepare products for the market.
McKesson chair and chief executive officer Brian Tyler said the acquisition represents another important step in advancing the company’s oncology and multi-specialty strategy.
“Precision Medicine Group brings complementary capabilities that will enhance our clinical research and commercialisation services, strengthen clinical trial execution, and broaden our clinical service offerings,” Tyler said.
He added that the transaction reflects McKesson’s continued commitment to helping patients access high-quality healthcare while expanding the company’s ability to support biopharmaceutical partners.
Through the acquisition, McKesson expects to combine its existing healthcare capabilities with Precision Medicine Group’s expertise in clinical development and commercialisation.
The companies will therefore be positioned to offer biopharmaceutical customers a broader range of services as they move therapies from development towards patients.
Precision Medicine Group to join McKesson
Precision Medicine Group CEO Margaret Keegan said joining McKesson would provide an opportunity to expand the impact of the company’s clinical and commercial expertise.
“Together, we will bring a broader set of capabilities to biopharma companies, supporting them through the development and commercialisation process,” Keegan said.
She added that the company looks forward to joining McKesson and advancing their shared commitment to supporting innovation and improving patient access.
Precision Medicine Group has built its business around supporting biotechnology and pharmaceutical companies with specialised services throughout the product lifecycle.
Its capabilities span clinical research, laboratory services, biomarker analysis, market access and commercialisation.
McKesson works with stakeholders across the healthcare sector, including biopharmaceutical companies, care providers and pharmacies.
The company provides healthcare products, services and technology intended to support healthcare delivery and improve patient outcomes.
The acquisition will bring Precision Medicine Group’s clinical research and commercialisation expertise into McKesson’s oncology and multi-specialty operations, subject to the completion of the transaction and required regulatory processes.
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