McKesson and CD&R have agreed to buy Option Care Health for $5.8bn, pushing a major drug wholesaler deeper into home and alternate-site infusion.
The deal values Option Care at $32.05 a share, about a 37% premium to its closing price on the previous Monday. Private equity firm Clayton, Dubilier & Rice will own about 51% of the business after closing. McKesson will invest roughly $1.4bn for about 49%.
The deal at a glance
- Value: $5.8bn
- Price: $32.05 per share, about a 37% premium
- Ownership: CD&R about 51%, McKesson about 49%
- McKesson’s investment: about $1.4bn
- Management: Option Care stays a separate company under its current leadership
- Expected closing: First half of 2027
What Option Care does
Option Care Health provides home and alternate-site infusion services, delivering intravenous therapies to patients outside the hospital. The company says it has been providing infusion therapy for more than 45 years.
Why a wholesaler wants home infusion
McKesson is one of the largest drug distributors in the US. This deal takes it a step closer to the patient.
- The last mile is moving home. More complex therapies are being given outside hospitals, at home or in infusion centres. That shifts where drugs are stored, prepared and delivered.
- Specialty drugs drive growth. Infusion often involves high-value specialty medicines, the fastest-growing part of pharmaceutical distribution.
- A minority stake limits risk. By taking about 49% alongside a private equity partner, McKesson gains exposure to the business without owning it outright.
What it means for the supply chain
For manufacturers, payers and providers, the deal deepens the links between distribution and patient care. Home infusion depends on cold chain logistics, sterile compounding, nursing support and reliable delivery to individual homes. A partner with McKesson’s distribution scale could strengthen that network. It will also draw attention from those watching how far wholesalers move into care delivery.
The bottom line
The Option Care deal shows where drug distribution is heading: closer to the patient, and deeper into specialty care. Watch the regulatory review and the closing timeline through the first half of 2027.
Frequently Asked Questions
Who is buying Option Care Health? Private equity firm CD&R and drug distributor McKesson, in a deal valued at $5.8bn.
How much will shareholders receive? $32.05 per share, about a 37% premium to the previous Monday’s close.
Who will own the company? CD&R will hold about 51% and McKesson about 49%.
Will Option Care’s management change? No. It will remain a separate company under its current management.
When will the deal close? It is expected to close in the first half of 2027.
Sources
| Source | Used for |
|---|---|
| Hargreaves Lansdown news (company announcement coverage) | Deal value, share price, premium, ownership split and closing timeline |
| HME News | Premium and deal coverage |
| Financial Times (as reported) | Earlier reports of the talks |
Additional Resources
| Resource | What you’ll find |
|---|---|
| McKesson investor relations | Company announcements and strategy |
| Option Care Health investor relations | Company profile and financial reports |
| National Home Infusion Association (NHIA) | Data and policy on home and alternate-site infusion |
| Healthcare Distribution Alliance (HDA) | US pharmaceutical distribution industry information |
Data note: Regulatory approval requirements were not detailed in available reporting. The closing date is the parties’ expectation.