IRVING, Texas — McKesson Corp. has signed a definitive agreement to acquire Precision Medicine Group, a global provider of clinical research and biopharma commercialization services.
McKesson will acquire Precision Medicine Group for approximately $2.25 billion. Following completion of the transaction, Precision Medicine Group will report within McKesson’s Oncology & Multispecialty segment. The transaction is subject to customary closing conditions, including regulatory clearances.
“This acquisition represents another meaningful step in advancing our oncology and multispecialty strategy and reflects our continued commitment to providing patients with access to the highest quality of care,” said Brian Tyler, chair and chief executive officer of McKesson. “Precision Medicine Group brings complementary capabilities that will enhance our clinical research and commercialization services, strengthen clinical trial execution, and broaden our clinical service offerings.”
Precision Medicine Group supports next-generation approaches to drug development and commercialization. Life sciences innovators in biotechnology and pharmaceutical companies rely on Precision Medicine Group to move their discoveries from molecule to market with a breadth of integrated services and technology-enabled products, including biomarker intelligence, lab services, a global clinical research organization, market access consulting and commercialization support.
“Joining McKesson provides a compelling opportunity to extend the impact of our clinical and commercial expertise for the benefit of our customers, partners and patients they serve,” said Margaret Keegan, chief executive officer of Precision Medicine Group. “Together, we will bring a broader set of capabilities to biopharma companies, supporting them through the development and commercialization process. We are excited to join McKesson and advance our shared commitment to enabling innovation and improving patient access.”
