McKesson to Sell Minority Stake in Business Unit to Apollo for $1.25 Billion

McKesson to sell minority stake in business unit to Apollo for $1.25 billion

McKesson is selling a minority stake in its Medical-Surgical Solutions unit to financial giant Apollo Global Management ahead of a planned spinoff. Read on to learn more about the deal impacting Dallas-Fort Worth's largest publicly traded company.

McKesson sells minority stake in surgical supplies unit to Apollo Funds for $1.25 billion

April 20 (Reuters) – McKesson said on Monday it will sell a minority stake ​in its medical-surgical solutions ‌business to investment firm Apollo Funds for $1.25 billion, as it prepares to spin off the unit ‌through ​an initial public ⁠offering. Apollo will acquire ⁠about 13% of the business through a convertible preferred equity investment, valuing the business ​at roughly $13 billion, the company said. McKesson will retain ⁠control and ⁠majori…

McKesson Signs Agreement with Apollo Funds for Strategic Minority Interest in Medical-Surgical Solutions

IRVING, Texas--(BUSINESS WIRE)--McKesson Corporation (NYSE: MCK), a leading Healthcare Services company, today announced it has entered into a definitive agreement with funds managed by affiliates of Apollo (“Apollo Funds”), under which Apollo Funds will acquire a minority ownership interest in McKesson’s Medical-Surgical Solutions (“MMS”) business. This transaction represents a meaningful milestone as McKesson executes its more... The post McKe…

Latham & Watkins Advises Apollo in Strategic Investment in McKesson’s Medical-Surgical Solutions Business

McKesson Corporation (NYSE: MCK), a leading healthcare services company, announced that it has entered into a definitive agreement with funds managed by affiliates of Apollo, under which Apollo Funds will acquire a minority ownership interest in McKesson’s Medical-Surgical Solutions (MMS) business. Apollo Funds will invest US$1.25 billion in convertible preferred equity of MMS to acquire an approximately 13% minority interest in MMS. Latham & Wa…

McKesson inks agreement with Apollo Funds for strategic minority interest in medical-surgical solutions

IRVING, Texas – McKesson Corp. has entered into a definitive agreement with funds managed by affiliates of Apollo (“Apollo Funds”), under which Apollo Funds will acquire a minority ownership interest in McKesson’s Medical-Surgical Solutions (“MMS”) business. This transaction represents a meaningful milestone as McKesson executes its separation strategy of MMS in preparation of a planned initial public offering.Apollo Funds will invest $1.25 bill…