Cencora Agrees to Take Controlling Stake in American Oncology Network in $2.4 Billion Deal Spanning 21 States

Cencora (COR) agreed to acquire American Oncology Network (AON) for $2.4bn, including $2.3bn at closing and up to $100m in contingent value rights. COR shares fell 4.84% post-announcement, despite recent gains. The deal expands COR's oncology services into 12 new states. COR raised its fiscal 2026 EPS guidance to at least $17.90. The transaction requires regulatory approval and AON stockholder approval.

Cencora, Inc. (COR) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 CENCORA TO ACQUIRE AMERICAN ONCOLOGY NETWORK TO STRENGTHEN SUPPORT OF COMMUNITY ONCOLOGY Builds on Cencora’s MSO platform by adding complementary capabilities and expanding presence across twelve additional states CONSHOHOCKEN, PA & FORT MYERS, Fla., October 21, 2026

Cencora Inc. (NYSE:COR) will acquire American Oncology Network Inc. (OTCQX:AONC) for $2.4 billion, including $2.3 billion at closing and up to $100 million in contingent value rights. The deal will expand Cencora's oncology services platform. Cencora expects the acquisition to be accretive to earnings per share by the second year post-closing and updated its 2026 EPS guidance to at least $17.90. The transaction is subject to regulatory approvals and AON stockholder approvals.

Cencora (COR) agreed to acquire American Oncology Network for $2.4B EV, with $2.3B paid at closing and up to $100M in contingent value rights. Cencora expects to pay about $1.7B for 75% ownership if 25% equity is rolled. The deal is expected to be EPS accretive in year two, subject to approvals. According to Cencora, the acquisition aligns with its strategy to expand in oncology services.

Cencora plans to acquire American Oncology Network (AON), expanding its oncology services to 12 more states. The deal aims to enhance care access and support independent practices. Cencora expects the acquisition to be accretive to its adjusted diluted EPS in the second year post-closing. The transaction is subject to regulatory approvals and AON stockholder approvals.

Cencora announced a $2.4 billion deal to acquire American Oncology Network (AON), expanding its community oncology reach. The deal includes $2.3 billion upfront and up to $100 million in contingent value rights. Cencora expects the acquisition to boost adjusted profit per share in the second year. The company also updated its annual forecast, expecting adjusted earnings of at least $17.90 per share, near the high end of its previous range.