McKesson, a leading U.S. drug distributor, will buy cancer specialist US Oncology in a stock-and-debt deal worth about $2.16 billion, the companies said on Nov. 1.
McKesson will buy all outstanding shares of US Oncology for cash and assume its debt.
"The combined organization will focus on providing a comprehensive offering of solutions for the oncology industry, one of the fastest-growing segments in healthcare," they said.
The transaction, which requires regulatory approval, was expected to close by December 31.
McKesson CEO John Hammergren said the tie-up with the community-based cancer treatment and research firm would offer a "compelling suite of services and solutions to community oncologists and other partners in the rapidly evolving specialty business."
The combined McKesson specialty care business will have 3,000 physician clients and be led by Bruce Broussard, chairman and CEO of US Oncology.
Copyright Agence France-Presse, 2010