Healthcare information systems and pharmaceutical distribution corporation McKesson announced today that it has completed its acquisition of US Oncology.
US Oncology, headquartered in The Woodlands, TX, is the largest community-based cancer care and research network in the U.S., with more than 500 affiliated sites of care, including 100 radiation therapy treatment centers.
The acquisition, for $2.16 billion in cash, was announced by McKesson of San Francisco on November 1 and was approved by the U.S. Federal Trade Commission and the Antitrust Division of the U.S. Department of Justice on December 20. However, the sale was halted on December 21 by an order from the Supreme Court of the State of New York, based on a complaint filed by Cancer Clinics of Excellence (CCE) of San Rafael, CA. An evidentiary hearing was scheduled for January 10, 2011.
J. Ike Nicoll, president and CEO of CCE, told AuntMinnie.com that a settlement agreeable to both CCE and McKesson had been reached, and that the complaint was withdrawn from the New York Supreme Court today. A spokesperson for McKesson Specialty Care Solutions concurred, stating that terms of the settlement had been successfully negotiated.
Related Reading
Oncology firm fights McKesson over US Oncology purchase, December 30, 2010
McKesson makes $2.2B bid for US Oncology, November 1, 2010
McKesson inks Va. contract, September 7, 2010
US Oncology posts Q2 results, August 5, 2010
McKesson wins Pa. PACS contract, July 22, 2010
US Oncology adds to revenue in Q1, May 6, 2010
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