McKesson to buy pharma technology company Rx Savings for up to $875 million

Boxes containing Moderia’s Covid-19 vaccine are prepared for shipment at the McKesson distribution center in Olive Branch, Mississippi, US on December 20, 2020. Paul Sancya/Pool via REUTERS

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Sept 19 (Reuters) – Drug distributor McKesson Corp ( MKN ) said on Monday it would buy private pharmacy technology company Rx Savings Solutions for $875 million.

The company helps health insurers and employers find low-cost prescription drugs, and provides ongoing medication reminders to improve prescription compliance.

“Rx Savings Solutions’ offering to employers and patients strengthens McKesson’s ability to help solve the most common drug challenges related to access, affordability and compliance,” said McKesson CEO Brian Tyler.

The transaction, which includes a $600 million upfront payment through 2025 and up to $275 million in Rx Savings financial performance, is expected to close in the second half of fiscal 2023.

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Reporting by Leroy Leo and Khushi Mandowara in Bengaluru; Editing by Vinay Dwivedi

Our Standards: The Thomson Reuters Trust Principles.

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