Option Care Health Sold for $5.8B in CD&R-McKesson Deal
Option Care Health (OPCH) is being acquired by CD&R and McKesson (MCK) for $5.8B, or $32.05 per share, a 37% premium. The deal, expected to close in 2027, values the company at $5.8B. Option Care Health will operate independently post-acquisition. The company reported $5.6B in 2025 revenue and $207.6M in net income, with modest growth in 2026. The acquisition aligns with McKesson's strategy to expand access to innovative therapies.
How this was made
The 30-second read
Why it matters
The acquisition removes OPCH from public markets while expanding McKesson's service footprint, likely affecting both stock valuations.
Market read
The $5.8B deal is a material M&A event in the healthcare sector, affecting both the target's delisting and the acquirer's growth trajectory.
What to watch
Regulatory approval risk and potential antitrust scrutiny could delay or derail the transaction.
Background
Option Care Health, the largest independent home infusion provider, is being acquired by a consortium of CD&R and McKesson for $5.8B.
Ticker impact
Option Care Health is being taken private in a $5.8B acquisition, its Nasdaq listing will be removed.
likely pressure as the market prices in the delisting and buyout premium.
The transaction removes the public float, eliminating future trading and causing a forced exit.
McKesson is co‑investing $1.4B for a 49% stake in Option Care Health, expanding its infusion services platform.
potential upside as investors price in expanded service capabilities.
The deal aligns with McKesson's growth strategy and may improve earnings outlook.
Market effects
Consolidation in home infusion services may pressure peers like UnitedHealth Optum and CVS Health.
The deal highlights continued M&A activity in the U.S. healthcare sector.
Large‑scale healthcare M&A can influence investor sentiment toward the broader health services industry.
Counterpoint
The premium paid may be excessive if integration costs rise, potentially limiting upside for McKesson.
Key entities
- CompanyOption Care Health
Home and alternate‑site infusion services provider being taken private.
- CompanyMcKesson Corporation
Healthcare services and distribution company acquiring a 49% stake.
- Private EquityCD&R
Co‑investor acquiring a controlling 51% stake.
