McKesson Corp. has announced it will acquire PSS World Medical for $1.46 billion, according to a news release.
McKesson will acquire all outstanding shares of PSS World Medical for $29 per share in cash. With the assumption of debt, the deal is valued at approximately $2.1 billion.
PSS World Medical is national distributor of medical supplies and equipment to office-based physicians and long-term healthcare providers headquartered in Jacksonville, Fla.
"The combination of McKesson's medical surgical business and PSS World Medical is an exciting next step in McKesson's commitment to improve business health and clinical performance across healthcare," said John H. Hammergren, chairman and CEO of McKesson, in the release. "The unified organization will bring extensive distribution capabilities, deep product and technology expertise and a broad portfolio of business services to an expanding industry, helping our customers improve efficiency and productivity, and deliver better care."
Following the close of the transaction, the combined business will be reported as part of McKesson's distribution solutions segment.
McKesson Corp. is headquartered in San Francisco.
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