logo
  

McKesson To Divest Certain European Businesses To PHOENIX Group - Quick Facts

Healthcare firm McKesson Corp. (MCK) announced Wednesday that it has agreed to sell its European businesses in France, Italy, Ireland, Portugal, Belgium, and Slovenia to German healthcare provider PHOENIX group. The financial terms of the deal were not disclosed.

This transaction also includes McKesson's German-based AG headquarters in Stuttgart, Recucare GmbH, its German wound-care business, its shared services center in Lithuania, and its 45% ownership stake in Brocacef, the company's joint venture in the Netherlands.

The transaction is expected to close in 2022, subject to customary closing conditions, including receipt of required regulatory approvals. It will also explore strategic alternatives for all remaining European businesses in the UK, Norway, Austria, and Denmark.

The transaction enhances McKesson's focus and commitment to future investments in strategic growth outside of Europe, including oncology and biopharma services, and core pharmaceutical and medical distribution.

McKesson will also retain its minority equity stake in the company's Germany joint venture with Walgreens Boots Alliance.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Pittsburgh, Pennsylvania -based Thorley Industries, LLC, d.b.a. 4Moms is recalling more than 2 million MamaRoo swings and RockaRoo rockers citing entanglement and strangulation risks, the U.S. Consumer Product Safety Commission said. The recall was initiated after 4moms received two reports of entanglement incidents, including one death. Retail giant Walmart is partnering with media major Paramount Global to offer Paramount+ Essential subscription to Walmart+ members at no extra cost. Starting in September, Walmart+ members will be able to stream premium entertainment as part of their membership with Paramount+, a direct-to-consumer digital subscription video on-demand and live streaming service. Fifth Season is recalling a limited amount of its branded Crunchy Sesame Salad Kits due to undeclared milk and egg, known allergens, the U.S. Food and Drug Administration said. The recall involves Fifth Season branded Crunchy Sesame Salad Kit with UPC Code: 52070008147 and Best By Date of 16-AUG-2022 and 15-AUG-2022.
Follow RTT