McKesson Boosts Oncology Unit With US$2.2bn Precision Deal
McKesson’s US$2.25bn deal to bring Precision Medicine Group, a global provider of biomarker-driven clinical research and commercialisation services, in-house is set to accelerate progress within its Oncology and Multispeciality division.
McKesson is a leading US-based healthcare company providing pharmaceuticals, medical supplies and technology solutions. It primarily distributes medicines to pharmacies, hospitals and healthcare providers, while its technology and services businesses support care delivery and clinical research.
Precision's 3,500-strong global team supports biotech and pharmaceutical companies across the drug development lifecycle, combining biomarker intelligence, laboratory services, clinical research, market access consulting and commercialisation support to help bring discoveries from molecule to market.
Much of the company's clinical work is in oncology.
Commenting on the deal, Brian Tyler, Chair and CEO of McKesson, says, “This acquisition represents another meaningful step in advancing our oncology and multispecialty strategy and reflects our continued commitment to providing patients with access to the highest quality of care.
“Precision Medicine Group brings complementary capabilities that will enhance our clinical research and commercialisation services, strengthen clinical trial execution and broaden our clinical service offerings.”
“Advancing oncology innovation”
McKesson’s oncology platform includes The US Oncology Network, a leading independent community-based oncology network, supporting more than 3,300 providers across 29 states and treating more than 2 million patients annually.
It provides practices with operational, financial and clinical support, alongside access to medicine and research.
- 3,300+ providers across 750+ oncology sites in 29 states through the US Oncology Network.
- 2 million+ patients treated annually through the network.
- Approximately 45% of the US population lives within 20 miles of a practice in the network.
- 1,300+ research physicians across 200+ Sarah Cannon Research Institute locations.
- 2.4m+ cancer records in Ontada’s real-world data platform.
McKesson also supports the Sarah Cannon Research Institute (SCRI), its oncology research joint venture with HCA Healthcare, which connects more than 1,300 physicians across more than 200 locations and runs trials designed to expand access to innovative cancer therapies.
Discussing what the Precision acquisition means for McKesson’s oncology division on LinkedIn, Jason Hammonds, President of Oncology and Multispecialty, writes: “This reinforces our dedication to advancing oncology innovation for patients and providers and supporting biopharma companies across the product lifecycle – from clinical development through commercialisation and broader patient access to innovative care in the community.”
“This reinforces our dedication to advancing oncology innovation for patients and providers and supporting biopharma companies across the product lifecycle ”
Covering the full product lifecycle
Although McKesson already has considerable exposure to oncology care delivery, drug distribution and clinical research, Precision adds capabilities further upstream in the pharmaceutical development and commercialisation process.
In a statement, Precision said the deal would create opportunities to connect scientific innovation, clinical development, commercialisation, patient access and care delivery, creating a more connected clinical model.
“Joining McKesson provides a compelling opportunity to extend the impact of our clinical and commercial expertise for the benefit of our customers, partners and patients they serve,” Precision CEO Margaret Keegan explains.
“Together, we will bring a broader set of capabilities to biopharma companies, supporting them through the development and commercialisation process.”
Organisational restructuring
In September 2025, McKesson announced an organisational restructuring, effective from the second quarter of its 2026 fiscal year, with several new “reporting segments” established, including Oncology and Multispecialty.
The restructuring, combined with high-value deals to boost its oncology services, suggests it will be a key growth area for McKesson in the years ahead.
At the time of the restructuring announcement, Britt Vitalone, former Chief Financial Officer at McKesson, echoed this by saying, “This updated reporting structure reflects a strategic evolution of our business – accelerating growth in the high-margin areas of oncology, multispecialty and biopharma services.”
Key Partners
Microsoft
CEO: Satya Nadella | HQ: Redmond, Washington, US
McKesson’s oncology data business, Ontada, collaborates with Microsoft to use Azure AI and Azure OpenAI Service to process more than 150 million unstructured oncology document components. The partnership aims to extract clinical insights at scale, improve understanding of patient journeys and strengthen real-world evidence.
CVS Health
CEO: David Joyner | HQ: Woonsocket, Rhode Island, US
McKesson and CVS Health have maintained a pharmaceutical distribution partnership for more than 20 years. Their current agreement, extended through June 2027, covers distribution to CVS mail-order and specialty pharmacies, retail pharmacies and distribution centres. CVS is McKesson’s largest customer, accounting for around 24% of McKesson’s fiscal 2025 revenue.
Company portals
Executives
Brian Tyler
CEO
Jason Hammonds
President, Oncology & Multispecialty
Margaret Keegan
Chief Executive Officer
