McKesson and CD&R agree to acquire Option Care Health for $5.8 billion
McKesson (MCK) and Clayton Dubilier & Rice (CD&R) agreed to acquire Option Care Health (OPCH) for $5.8B, or $32.05 per share, a 37% premium. CD&R will hold 51%, McKesson 49%. OPCH, a home infusion services provider, will remain independent but delist from Nasdaq post-deal. The transaction is expected to close in H1 2027, subject to approvals.
How this was made
The 30-second read
Why it matters
The transaction creates a sizable platform for specialty therapy delivery outside hospitals, aligning with industry trends toward outpatient care.
Market read
The $5.8 billion M&A is a material event for both McKesson and Option Care, driving immediate price moves and reshaping the specialty‑care landscape.
What to watch
Financing terms and the future of Option Care's existing debt may affect the net benefit to McKesson.
Background
McKesson, a leading drug distributor, partners with private equity firm CD&R to acquire Option Care Health, the largest independent home‑infusion provider.
Ticker impact
McKesson announced a $5.8 billion acquisition of Option Care Health, taking a 49% stake and committing $1.4 billion.
modest upside as investors price in growth potential from the infusion services platform.
Large‑scale M&A with strategic fit; market typically rewards expansion into high‑margin specialty care.
Option Care Health agreed to be acquired for $32.05 a share, a 37% premium, and will be taken private.
upward pressure as the premium is baked in; price may stabilize near the offer level before delisting.
Premium acquisition creates immediate upside; the stock will be removed from Nasdaq, ending further public trading.
Market effects
Consolidates the home‑infusion market, pressuring peers and encouraging further M&A in specialty‑care services.
U.S. healthcare services sector may see modest re‑rating as the deal highlights growth in community‑based therapy delivery.
Limited to U.S. healthcare; no direct global macro effect.
Counterpoint
Potential integration challenges and regulatory scrutiny could delay value realization, weighing on McKesson.
Key entities
- CompanyMcKesson Corp
US drug distributor and healthcare services provider.
- CompanyOption Care Health
Independent provider of home and alternate‑site infusion services.
- Private EquityClayton Dubilier & Rice
Investment firm taking a 51% stake in the combined entity.
