US-based healthcare services provider McKesson has agreed to buy Precision Medicine Group for $2.25bn.
McKesson believes that the deal will support its clinical research and biopharmaceutical commercialisation services.
Upon completion of the transaction, Precision Medicine Group will operate under McKesson’s oncology and multi-speciality segment.
The acquisition remains subject to customary closing conditions, including regulatory approvals.
Founded as a provider of global clinical research and commercialisation services, Precision Medicine Group serves biotechnology and pharmaceutical companies.
The company offers integrated services and technology-based products that include biomarker intelligence, laboratory services, a global clinical research organisation, market access consulting, and commercialisation support.
McKesson chair and CEO Brian Tyler said: “This acquisition represents another meaningful step in advancing our oncology and multi-speciality strategy and reflects our continued commitment to providing patients with access to the highest quality of care.
“Precision Medicine Group brings complementary capabilities that will enhance our clinical research and commercialisation services, strengthen clinical trial execution, and broaden our clinical service offerings.”
Precision Medicine Group CEO Margaret Keegan said: “Joining McKesson provides a compelling opportunity to extend the impact of our clinical and commercial expertise for the benefit of our customers, partners and patients they serve.
“Together, we will bring a broader set of capabilities to biopharma companies, supporting them through the development and commercialisation process.
“We are excited to join McKesson and advance our shared commitment to enabling innovation and improving patient access.”
McKesson partners with stakeholders across the healthcare sector, including biopharma companies, care providers and pharmacies, to deliver products and services designed to improve patient health outcomes.
