McKesson sells surgical unit stake to Apollo for $1.25B
McKesson is selling a 13% stake in its surgical unit to Apollo Funds for $1.25 billion. The deal values the business at $13 billion ahead of a planned IPO.
MCKESSON CORP announced on Monday that it has agreed to sell a minority stake in its medical-surgical solutions business to investment firm APOLLO GLOBAL MANAGEMENT INC for $1.25 billion. This transaction comes as the healthcare services giant prepares to spin off the division through an initial public offering.
Under the terms of the agreement, Apollo will acquire approximately 13% of the business through a convertible preferred equity investment. This deal values the medical-surgical solutions unit at roughly $13 billion. Despite the investment, McKesson will retain majority ownership and operational control of the division.
