McKesson acquires Precision Medicine Group for $2.25 billion

McKesson announced on August 25, 2026, that it will acquire Precision Medicine Group for approximately $2.25 billion to bolster its clinical research and oncology services. Precision Medicine Group will join McKesson's oncology and multispecialty unit, which saw revenue rise 33% to $14.2 billion in Q1 fiscal 2026. The deal aligns with McKesson's broader strategy to divest non-core assets, including selling a minority stake in its medical-surgical unit to Apollo Funds for $1.25 billion.

Precision Medicine Group acquisition

• ▪Bethesda, Maryland-based Precision Medicine Group will become part of McKesson's oncology and multispecialty unit after the acquisition deal closes.
• ▪McKesson announced on August 25, 2026, that it will acquire privately held Precision Medicine Group in a deal valued at approximately $2.25 billion.

McKesson portfolio restructuring strategy

• ▪McKesson is reshaping its portfolio by exiting non-core assets and streamlining operations while investing in oncology and specialty care to drive long-term growth.
• ▪McKesson restructured its operations into four reporting segments in 2025.

Clinical research services expansion

• ▪McKesson Chief Executive Officer Brian Tyler stated that the acquisition of Precision Medicine Group will enhance McKesson's clinical research, commercialization services, and clinical trial execution.
• ▪Precision Medicine Group provides clinical research, laboratory testing, and commercialization services to help biotechnology and pharmaceutical companies develop and launch new medicines.

Oncology division revenue growth

• ▪Revenue in McKesson's oncology and multispecialty division increased 33% to $14.2 billion in the first quarter of fiscal 2026.
• ▪The revenue growth in McKesson's oncology and multispecialty division was driven by healthcare provider services, specialty distribution, and acquisitions of controlling stakes in Core Ventures and PRISM Vision Holdings.

Medical-surgical business divestiture

• ▪McKesson announced in April 2026 that it would sell a minority stake in its medical-surgical solutions business to investment firm Apollo Funds for $1.25 billion.
• ▪McKesson is pursuing an initial public offering for its medical-surgical solutions business following the sale of a minority stake to Apollo Funds.

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