McKesson Makes $2.5 Billion Move To Expand Its Platform

Irving, Texas-based McKesson Corporation has agreed to acquire Precision Medicine Group for approximately $2.25 billion, expanding the healthcare services company’s reach across clinical research, drug development and biopharmaceutical commercialization.

Precision Medicine Group will become part of McKesson’s Oncology & Multispecialty segment once the transaction is completed. The deal remains subject to regulatory approval and other customary closing requirements. McKesson has not announced an anticipated closing date.

Based in Bethesda, Maryland, Precision Medicine Group helps biotechnology and pharmaceutical companies advance new treatments from early-stage research through commercial launch. Its services include biomarker analysis, laboratory testing, global clinical trial management, market-access consulting and commercialization support.

For McKesson, the acquisition builds on a broader strategy centered on oncology, specialty care and other higher-growth healthcare businesses. The company expects Precision Medicine Group’s capabilities to strengthen clinical trial execution while allowing McKesson to provide more comprehensive support to biopharmaceutical companies throughout the product-development cycle.

McKesson’s Oncology & Multispecialty segment has already been growing rapidly. The division generated $14.2 billion in revenue during the first quarter of fiscal 2026, representing a 33% increase from the prior-year period. Growth was supported by specialty pharmaceutical distribution, services for healthcare providers and previous investments in physician platforms.

At the same time, McKesson has been repositioning other portions of its portfolio. The company previously announced plans to sell a minority interest in its medical-surgical solutions business to Apollo Funds for $1.25 billion as part of preparations for a potential initial public offering.

The Precision Medicine Group transaction further concentrates McKesson’s resources on the infrastructure supporting oncology research, specialty practices and the introduction of new therapies. That strategy could also influence the company’s longer-term requirements for clinical research facilities, specialized laboratories and healthcare office space as the combined platform grows.

Precision Medicine Group CEO Margaret Keegan said joining McKesson would allow the company to extend its clinical and commercial expertise while offering biopharmaceutical clients a broader range of services.

The acquisition underscores the increasing value of businesses that connect drug research, clinical trials, physician networks and patient access—and the substantial investment major healthcare companies are willing to make to control more of that ecosystem.

Source: Dallas Business Journal and McKesson Corporation.