TX-MCKESSON
McKesson Corporation (NYSE: MCK) today announced that it has entered into an agreement to sell its European businesses in France, Italy, Ireland, Portugal, Belgium, and Slovenia to the PHOENIX group. 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.
The remaining European businesses in the UK, Norway, Austria, and Denmark are not included in this transaction and will continue to be operated by McKesson. However, McKesson is committed to exploring strategic alternatives for all remaining European businesses and focusing future investments on growth strategies outside of Europe. McKesson will also retain its minority equity stake in the company’s Germany joint venture with Walgreens Boots Alliance.
“Today’s transaction marks an important step in advancing McKesson’s commitment to streamline the business and prioritize investments in the areas where we have deep expertise and are central to our long-term growth strategy,” said Brian Tyler, chief executive officer, McKesson. “We are confident that under the PHOENIX group’s strong leadership, the businesses included in this agreement will be well-positioned for the future to compete more effectively and better serve customers. We will continue to operate our remaining businesses in the UK, Norway, Austria, and Denmark while also exploring a strategic path forward to fully exit the European region. Our goal is to accelerate our growth strategies, becoming a more focused organization and enabling our mission to improve care in every setting.”
The PHOENIX group is a leading integrated healthcare provider and a leader in the European healthcare sector, with over 25 years’ experience serving customers, patients, and partners across Europe. The PHOENIX group shares McKesson’s deep commitment to these groups, which is one of the many reasons that the PHOENIX group is the ideal leader to take these European businesses into the future.
As previously announced, McKesson will release its first quarter fiscal 2022 financial results after market close on Wednesday, August 4, 2021. The Company will host a live webcast of the earnings conference call for investors at 4:30 PM Eastern Time to review its financial results. The Company will not provide further comments regarding the sale of the European businesses until its earnings call on August 4, 2021.
Cautionary Statements
Except for historical information, statements in this press release elated to McKesson’s proposed disposition of certain operations and assets in Europe constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, that involve risks and uncertainties that could cause actual results to differ materially from those in those statements. It is not possible to identify all such risks and uncertainties. The reader should not place undue reliance on forward-looking statements, which speak only as of the date they are first made. Except to the extent required by law, the company undertakes no obligation to publicly update forward-looking statements. We encourage investors to read the important risk factors described in the company’s most recent Form 10-K filed with the Securities and Exchange Commission. These risk factors include, but are not limited to: we might be adversely impacted by delays or other difficulties with divestitures such as the transactions described in this press release; we from time to time record significant charges from impairment to goodwill, intangibles and other assets or investments; we might be adversely impacted by events outside of our control, such as widespread public health issues, natural disasters, political events and other catastrophic events.
About McKesson Corporation
McKesson Corporation is a global leader in healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information solutions. McKesson partners with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare to help provide the right medicines, medical products and healthcare services to the right patients at the right time, safely and cost-effectively. United by our ICARE shared principles, our employees work every day to innovate and deliver opportunities that make our customers and partners more successful – all for the better health of patients. McKesson has been named a “Most Admired Company ” in the healthcare wholesaler category by FORTUNE, a “Best Place to Work ” by the Human Rights Campaign Foundation, and a top military-friendly company by Military Friendly. For more information, visit www.mckesson.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20210707005500/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
AWS and HUMAIN Expand Partnership with NVIDIA AI Infrastructure and AWS AI Chip Deal to Drive Global AI Innovation19.11.2025 19:38:00 CET | Press release
Expanded partnership includes deployment of up to 150,000 AI accelerators including the latest NVIDIA GB300s AI infrastructure and AWS’s Trainium chips.Amazon Bedrock will provide customers access to best-in-class foundation models optimized across diverse, high performance AI chip infrastructures.AWS becomes HUMAIN’s preferred AI partner with AWS and HUMAIN collaborating to bring AI compute and services to customers worldwide. Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), and HUMAIN, a Public Investment Fund (PIF) company delivering global full-stack AI solutions, announced today at the U.S.-Saudi Investment Forum their plans to provide, deploy and manage up to 150,000 AI accelerators in a data center facility known as an “AI Zone” in Riyadh. As part of the expanded partnership, AWS will become HUMAIN’s preferred AI partner globally, and the two companies will collaborate to bring AI compute and services from Saudi Arabia to customers worldwide. This pre
Luma AI Raises $900 Million Series C Led by HUMAIN And Partners on 2 Gigawatt AI Supercluster in Saudi Arabia19.11.2025 18:15:00 CET | Press release
New capital and compute infrastructure will accelerate Luma AI’s path towards Multimodal AGI – AI that can simulate reality and help humans in the physical world.HUMAIN to build Project Halo, one of the world’s largest AI compute clusters that will include the training of World Models, the next step in AI after LLMs - a potential trillion-dollar opportunity spanning entertainment, marketing/brands, education, world understanding, and robotics industries.Partnership includes HUMAIN Create, an initiative to build AI models trained on Arabic and regional data, helping enterprises and governments across MENA adopt culturally aligned AI. Luma AI, the frontier artificial intelligence company building multimodal AGI, today announced it has raised $900 million in Series C funding, led by HUMAIN, a PIF company delivering global full-stack AI solutions, with significant participation from AMD Ventures, and existing investors Andreessen Horowitz, Amplify Partners, and Matrix Partners. This press
Synthio Labs Raises $5 Million to Build the Voice AI Operating System for Life Sciences Customer Engagement19.11.2025 16:00:00 CET | Press release
Synthio Labs, a clinical-grade voice AI company transforming how life sciences organisations engage clinicians and patients, today announced that it has raised $5 million in seed funding. The round was led by Elevation Capital with participation from 1984 Ventures, Peak XV Partners, Y Combinator, and several strategic angels from the global healthcare and AI ecosystem. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251119509940/en/ Rajashekar Vasantha (left), Supreet Deshpande (center), and Sahitya Sridhar (right), the founding team behind Synthio Labs’ voice-powered AI platform for pharma “We believe Synthio Labs is defining the next major Customer Engagement infrastructure for Life Sciences. Their Clinical-grade Voice AI platform unifies how pharma communicates - giving field teams a powerful voice companion, and giving physicians and patients instant, trusted, compliant answers 24/7. Pharma’s global Commercial and GTM foo
Torq Crushes EMEA Estimates With Record-Breaking Q3, Hitting 185% of Quarterly Target19.11.2025 15:00:00 CET | Press release
Torq Achieves 284%EMEA Customer Growth As It Signs Iconic Enterprises Including Virgin Atlantic, Kyocera, Siemens, and Zara Torq, the autonomous security operations leader, today announced it has exceeded Q3 EMEA revenue estimates, achieving 185% of its quarterly target. Torq is now firmly established as EMEA’s autonomous security operations platform of choice as enterprise goliaths continue joining its customer ranks, including Virgin Atlantic, Kyocera, Siemens, and Zara. Torq’s EMEA headcount grew 400% across 2025 to accommodate the exponentially increasing demand. “As worldwide momentum accelerates, Torq is doubling down on its EMEA investment by expanding operations, growing regional leadership, and strengthening our on-the-ground presence to fuel our next stage of growth,” said Ofer Smadari, CEO and co-founder, Torq. “Torq is now trusted by many of the world’s largest brands inside some of the most complex and sophisticated security operations centers. With new expansion into Germ
iConnections Launches Pipelines: A Powerful New Way for LPs and GPs to Turn Connections Into Real Momentum19.11.2025 15:00:00 CET | Press release
iConnections, the leading network for allocators and fund managers, today announced the launch of Pipelines, a new productivity and relationship-management tool built directly into the platform. Pipelines gives LPs and GPs a structured, visual, and purpose-built way to organize their outreach, nurture relationships, and drive their fundraising or investment processes forward—without relying on fragmented spreadsheets or generic CRMs. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251119021208/en/ Born from extensive feedback across the alternative investment ecosystem, Pipelines is designed to solve a common industry challenge: after a productive event or outreach cycle, promising conversations often lose momentum because there is no simple, tailored way to track next steps. “With Pipelines, users finally have a workflow that matches the way this industry actually operates,” said Douglas Melchior, VP of Product at iConnectio
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom