McKesson to Buy Precision Medicine for $2.25B

McKesson announced an agreement to acquire privately held Precision Medicine Group in a transaction valued at about $2.25 billion. The target company, based in Bethesda, Maryland, provides clinical research, laboratory testing, and commercialization services to biopharma companies developing and launching new medicines.

Precision Medicine will join McKesson's Oncology & Multispecialty division once the transaction closes, though McKesson did not disclose a completion timeline. Revenue for the segment rose 33% to $14.2 billion in the first quarter of fiscal 2026.

The purchase follows McKesson's April announcement to sell a minority stake in its medical-surgical solutions business to Apollo Funds for $1.25 billion while pursuing an IPO for that unit. JPMorgan analyst Lisa Gill noted that the deal will likely strengthen McKesson's biopharma offerings, while both JPMorgan and Leerink Partners indicated investors will seek clarity on scalability and synergy creation.

In the second quarter of 2026, 77 hedge funds held McKesson shares valued at $4.33 billion, up from 73 funds in the first quarter. Among drug distribution peers, 63 funds held Cencora shares valued at $2.30 billion, and 63 funds held Cardinal Health shares valued at $1.85 billion.