McKesson revenues rise $3.4 billion in Q3

SAN FRANCISCO McKesson released its revenues for its third fiscal quarter that ended Dec. 31, 2007. Revenues for the quarter rose by $3.4 billion to $26.5 billion compared with the third quarter last year.

“In our third quarter, McKesson revenues were up 15 percent,” said John Hammergren, chairman and chief executive officer. “Distribution Solutions revenues increased 14 percent, driven primarily by solid growth and new business from existing customers and the acquisition of Oncology Therapeutics Network, which occurred on Oct. 29, 2007. Technology Solutions revenues increased 35 percent, driven by the acquisition of Per-Se Technologies and continued expansion in software and services. Operating performance was also strong given that we faced a difficult comparison versus the third quarter a year ago and that we took a number of actions in the quarter designed to improve future financial results.”

Also during the quarter, Cigna decided to expand an online physician consultation service called webVisit nationwide. The service is provided by McKesson’s RelayHealth unit, which also expanded its webVisit deal with Aetna.