McKesson to Buy Stake in Florida Cancer Chain for $2.49 Billion

McKesson Corp. agreed to buy a controlling stake in an arm of Florida Cancer Specialists & Research Institute, a privately held operator of clinics.

Drug distributor McKesson will pay about $2.49 billion in cash for the holding in Community Oncology Revitalization Enterprise Ventures LLC, also known as Core Ventures, representing about 70% ownership, according to a statement Monday. Core Ventures, a business and administrative services organization, was established by Florida Cancer Specialists, whose physicians will retain a minority interest in the subsidiary.

The news confirms an earlier report from Bloomberg that McKesson was in talks to buy a stake ...