Irving-based McKesson Corp. has agreed to acquire a controlling interest in PRISM Vision Holdings LLC, a provider of general ophthalmology and retina management services, from Virginia-based Quad-C.
McKesson said it will buy an 80% interest in the company for roughly $850 million. PRISM Vision physicians will continue to retain a 20% interest in PRISM Vision, McKesson said.
“The acquisition of PRISM Vision will allow McKesson to build on our leadership in community practice and specialty solutions, while building a platform to serve the high-growth area of retina and ophthalmology,” McKesson CEO Brian Tyler said in a statement. “PRISM Vision has a strong track record and value proposition for community-based physicians and a strong leadership team focused on delivering superior retinal care, enhancing the provider experience and delivering innovative clinical research capabilities.”
Tyler said the acquisition will help establish a new area of care for his company.
“We intend to develop a leading platform for retinal care, delivering differentiated solutions and value across providers, biopharma partners and patients,” he said. “McKesson has a long track record of leading practice management and clinical research outcomes with our differentiated Oncology platform, and we are excited to leverage this expertise to serve the high-growth area of retina and ophthalmology. This will allow us to expand our suite of solutions and continue to pursue our purpose of advancing health outcomes for all.”
McKesson ranked ninth on the 2024 Fortune 500 list, making it the largest healthcare company in the United States and one of the top 10 largest companies by revenue.
McKesson said this deal will enable it to deliver on several key strategic objectives:
- Develop a leading retinal and ophthalmology platform, expanding McKesson’s differentiated value proposition, clinical services and distribution offerings. PRISM affiliated practices include more than 180 providers, 91 office locations and seven ambulatory surgery centers
- Expand data and analytics capabilities
- Further innovative investment in clinical research opportunities
- Deepen biopharma partnerships
“McKesson’s long history of supporting specialty physicians by emphasizing clinical quality and enhancing patients’ access to care, is completely aligned with the core values and culture of PRISM Vision Group,” Dr. Steven Madreperla, CEO of PRISM Vision, said in a statement. “We’re thrilled to be able to bring together PRISM’s exceptional provider base and service delivery platform with McKesson’s deep expertise in care delivery to further develop and expand our eye care network together.”
Once the deal is completed, PRISM Vision will be consolidated within McKesson’s U.S. Pharmaceutical segment.
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