McKesson Corporation has announced a definitive agreement to acquire a 70% controlling interest in Community Oncology Revitalization Enterprise (CORE) Ventures, a business and administrative services organization established by a physician-owned oncology practice, Florida Cancer Specialists & Research Institute (FCS).

The deal, valued at approximately $2.49 billion in cash, is aimed at integrating Core Ventures into McKesson’s Oncology platform, and financial results will be reported within McKesson’s US Pharmaceutical segment.

Following the close of the transaction, FCS, a practice with more than 250 physicians and 280 advanced practice providers, across nearly 100 locations in Florida, will remain independently owned and join McKesson’s The US Oncology Network.

“This milestone marks an important step forward in our efforts to advance community-based oncology care,” said Brian Tyler, CEO of McKesson. He emphasized that the acquisition aligns with McKesson’s goals of improving patient outcomes and expanding access to quality cancer care.

FCS, known for its comprehensive cancer care services and extensive clinical trials conducted through Sarah Cannon Research Institute, views the partnership as a significant step forward. “Above all else, our patients are the true beneficiaries of this transaction,” stated Dr. Lucio N. Gordan, president and managing physician of FCS.

The transaction is expected to close following regulatory approvals and customary conditions.