CD&R and McKesson Corporation Sign Agreement to Acquire Option Care Health
MCKESSON CORP (MCK) filed an SEC Form 8-K — Regulation FD Disclosure. Exhibit 99.1 CD&R and McKesson Corporation Sign Agreement to Acquire Option Care Health NEW YORK, IRVING, Texas and BANNOCKBURN, Ill., October 6, 2026 — CD&R, McKesson Corporation (NYSE: MCK) (“McKesson”), and Option Care Health, Inc. (Nasdaq: OPCH) (“Option Care Health”) announc
How this was made
The 30-second read
Why it matters
The transaction creates a strategic partnership that expands McKesson's reach into home infusion, while providing Option Care Health with capital and expertise to scale.
Market read
A $5.8 B healthcare acquisition that will reshape the specialty‑therapy delivery landscape and move two listed stocks.
What to watch
Regulatory approvals and the future equity‑method accounting could affect McKesson's earnings visibility.
Background
The filing is a Regulation FD disclosure (Form 8‑K) announcing the definitive agreement between CD&R, McKesson and Option Care Health.
Ticker impact
McKesson announced a $5.8 B acquisition of Option Care Health, taking a 49% minority stake at $32.05 per share.
upward pressure as investors value the expansion into home infusion services
The deal adds a high‑growth specialty care platform; the premium is sizable and the transaction is expected to close in H1 2027.
Option Care Health will be taken private in a $5.8 B deal, ending its Nasdaq listing.
downward pressure as the market absorbs the buyout and delisting risk
The announced cash price of $32.05 per share represents a 37% premium; the stock will cease trading, prompting a sell‑off.
Market effects
Strengthens the home‑infusion and specialty‑pharma segment, potentially boosting peers in the healthcare services space.
U.S. healthcare M&A activity may see heightened interest, especially for companies with outpatient infusion capabilities.
The deal underscores a broader trend of consolidating specialty care, relevant to global investors tracking healthcare consolidation.
Counterpoint
The premium may be excessive if integration costs rise, suggesting a potential overvaluation of McKesson's stake.
Key entities
- Private equity firmCD&R
Lead private equity sponsor acquiring a 51% stake.
- Public companyMcKesson Corporation
NYSE‑listed healthcare distributor taking a 49% minority stake.
- Public companyOption Care Health, Inc.
Nasdaq‑listed home infusion services provider being taken private.
