McKesson Buys Precision Medicine to Expand Clinical Research and Commercialization - McKesson (NYSE:MCK)

McKesson Corporation (NYSE:MCK) on Tuesday announced an agreement to acquire Precision Medicine Group.

The deal provides McKesson with an opportunity to expand its clinical research and commercialization services.

McKesson will acquire Precision Medicine Group for approximately $2.25 billion.

Following completion of the transaction, Precision Medicine Group will report within McKesson’s Oncology & Multispecialty segment, its second-largest segment with first-quarter sales of $14.2 billion.

McKesson ended the first quarter with cash and equivalents of $5.20 billion.