By Sneha S K
Oct 6 (Reuters) – Drug distributor McKesson and private equity firm Clayton Dubilier & Rice on Tuesday agreed to take infusion therapy provider Option Care Health private in a deal worth about $5.8 billion including debt.
The per-share offer price of $32.05 represents a 37.1% premium to Option Care’s last closing price.
The deal is the latest for the US drug distributor as it seeks to expand its healthcare services footprint, and marks another private equity buyout of a home health services provider after Enhabit.
Option Care Health is the largest independent infusion therapy provider in the US, serving more than 308,000 patients annually through over 197 locations to provide services such as home and ambulatory infusions, specialty pharmacy and care for complex conditions.
There has been growing demand for home‑based care in the US, as the population ages and more patients choose to receive treatment outside higher-cost settings like hospitals.
At the closing of the transaction, CD&R will hold a majority ownership interest, and McKesson will hold a minority ownership interest. Option Care Health will remain a separate company led by its own management team.
According to the terms of the deal, McKesson will invest about $1.4 billion for a 49% stake, holding the right to purchase the remaining 51% from CD&R at some point in the future.
The transaction aligns McKesson with the site-of-care shift away from hospital and provider settings, said Leerink Partners analyst Michael Cherny in a note late on Monday.
The deal would also expand McKesson’s US footprint in home infusion services as it currently operates Inviva, a leading infusion and injection network in Canada.
McKesson’s oncology and multispecialty segment that includes infusion services recorded revenue of $14.2 billion in the latest quarter, a rise of 33% from a year earlier, helped by specialty distribution and contributions from acquisitions.
The deal is expected to close in the first half of 2027, and Option Care Health will become a privately held company.
(Reporting by Sneha S K in Bengaluru; Editing by Maju Samuel)
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