McKesson Corporation’s shares climbed 3.2% on Tuesday after the healthcare distributor announced plans to acquire Precision Medicine Group for approximately $2.25 billion.
The transaction, which will integrate Precision Medicine Group into McKesson’s Oncology & Multispecialty segment, aims to expand the company’s clinical research and commercialization capabilities. Precision Medicine Group provides biomarker intelligence, lab services, and a global clinical research organization, supporting drug development and market access for biotechnology and pharmaceutical firms.
McKesson Chair and Chief Executive Officer Brian Tyler said the acquisition advances the company’s oncology and multispecialty strategy, reinforcing its commitment to delivering high-quality patient care. Precision Medicine Group Chief Executive Officer Margaret Keegan highlighted the opportunity to leverage McKesson’s resources to broaden clinical and commercial expertise for biopharma partners.
The deal remains subject to customary closing conditions, including regulatory approvals. No timeline for completion was disclosed.
