Dec 15 (Reuters) – U.S. drug distributor Cencora said on Monday it will take majority control of cancer care network OneOncology in a deal that values the business at $7.4 billion, as it moves to expand services for community oncology practices.
Cencora, which already owns a stake in OneOncology, will buy most of the remaining shares from investment firm TPG and other holders for about $3.6 billion in cash and pay off $1.3 billion of OneOncology’s debt, for total cash consideration of about $5 billion.
The transaction is expected to close by the end of Cencora’s second quarter of fiscal 2026. Cencora plans to fund the purchase with new debt.
Cencora maintained its fiscal 2026 earnings forecast but said that because it is halting share buybacks ahead of the deal, earnings are now more likely to come in at the lower half of its prior range of $17.45 to $17.75 per share.
(Reporting by Padmanabhan Ananthan in Bengaluru; Editing by Mrigank Dhaniwala)
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