McKesson to acquire controlling interest in Prism Vision

McKesson has signed a definitive agreement to acquire a controlling interest in Prism Vision, a provider of general ophthalmology and retina management services, from Quad-C.

McKesson will purchase an 80% interest for approximately $850 million, while Prism Vision physicians will retain a 20% interest in Prism Vision.

“The acquisition of Prism Vision will allow McKesson to build on our leadership in community practice and specialty solutions, while building a platform to serve the high-growth area of retina and ophthalmology,” said Brian Tyler, CEO of McKesson. “Prism Vision has a strong track record and value proposition for community-based physicians and a strong leadership team focused on delivering superior retinal care, enhancing the provider experience and delivering innovative clinical research capabilities."

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Tyler continued, "We intend to develop a leading platform for retinal care, delivering differentiated solutions and value across providers, biopharma partners and patients. McKesson has a long track record of leading practice management and clinical research outcomes with our differentiated Oncology platform, and we are excited to leverage this expertise to serve the high-growth area of retina and ophthalmology. This will allow us to expand our suite of solutions and continue to pursue our purpose of advancing health outcomes for all.”

McKesson said the transaction will enable the company to deliver on several key strategic objectives:

• Develop a leading retinal and ophthalmology platform, expanding McKesson’s differentiated value proposition, clinical services and distribution offerings. Prism affiliated practices include more than 180 providers, 91 office locations and seven ambulatory surgery centers
• Expand data and analytics capabilities;
• Further innovative investment in clinical research opportunities; and
• Deepen biopharma partnerships.

“McKesson’s long history of supporting specialty physicians by emphasizing clinical quality and enhancing patients’ access to care, is completely aligned with the core values and culture of Prism Vision Group,” said Steven Madreperla, CEO of Prism Vision. “We are thrilled to be able to bring together PRISM’s exceptional provider base and service delivery platform with McKesson’s deep expertise in care delivery to further develop and expand our eye care network together.”

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Following completion of the transaction, Prism Vision will be consolidated within McKesson’s U.S. pharmaceutical segment. The transaction is subject to customary closing conditions, including necessary regulatory clearances. Upon closing, Prism Vision is anticipated to be approximately 20 cents to 30 cents accretive to McKesson’s Adjusted Earnings Per Diluted Share in the first 12 months, and 65 cents to 75 cents accretive by the end of the third year following the close of the transaction.