McKesson Corp

MCK: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$723.00	Qfwxzf	Rnwrskhhd

McKesson: Core Ventures Acquisition Bolsters US Oncology Network and Reinforces Market Leadership

Keonhee Kim

Aug 26, 2024

Narrow-moat McKesson announced on Aug. 26 that it has entered into a definitive agreement to acquire a controlling interest in Community Oncology Revitalization Enterprise Ventures. This organization was established by Florida Cancer Specialists & Research Institute, an oncology network with about 100 locations and 250 physicians. McKesson will purchase approximately 70% of Core Ventures for $2.49 billion. We do not anticipate any major legal or antitrust hurdles, given the fragmented nature of the oncology clinic industry. We have not made any meaningful changes to our model, and we maintain our fair value estimate of $490 per share.

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