McKesson and CD&R to Take Option Care Health Private in $5.8 Billion Deal

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4▲2 ▼0Impact / 5
Summary · why it matters

McKesson Corporation is partnering with private equity firm Clayton, Dubilier & Rice to acquire Option Care Health, Inc. for $5.8 billion including debt, taking the infusion-services provider private at $32.05 per share, a 37% premium to its previous closing price. Under the structure announced on October 6, CD&R will own 51% of the business while McKesson will hold 49% and retain the right to acquire its partner's stake in the future. The deal extends McKesson's push beyond traditional pharmaceutical distribution into higher-value specialty services, following its previously announced $2.25 billion agreement to acquire Precision Medicine Group. Option Care, which served more than 315,000 patients last year through home-based services and 184 care centers, reported second-quarter revenue up 1.9% to $1.44 billion and adjusted EBITDA up 3% to $117.5 million, and withdrew its 2026 guidance of $5.675 billion to $5.775 billion in revenue following the announcement. Analysts at Barrington and William Blair both downgraded Option Care to Market Perform, calling the $32.05-per-share offer attractive and a competing bid unlikely, while Morgan Stanley maintained an Overweight rating and a $977 price target on McKesson.

Impact on assets 3

Health Care▲
McKesson Corporation
MCK
▲ PositiveCapitalrelevance

McKesson is acquiring 49% of Option Care Health in a $5.8B deal, extending its push into higher-value specialty services.

Aging Population▲
Option Care Health Inc
OPCH
▲ PositiveCapitalrelevance

Option Care Health is being taken private at $32.05 per share, a 37% premium to its previous close.

Financials▲

Off-coverage companies 4

Barrington Research Associatesi
Private± Mixedrelevance

Clayton Dubilier & Ricei
Private± Mixedrelevance

Precision Medicine Group, LLCi
Private± Mixedrelevance

William Blair & Companyi
Private± Mixedrelevance