AdaptHealth to Buy Patient Care Solutions Business From McKesson

Date : 11/22/2019 @ 1:44PM
Source : Dow Jones News
Stock : McKesson Corp (MCK)
Quote : 151.1994  -0.9206 (-0.61%) @ 5:02PM

AdaptHealth to Buy Patient Care Solutions Business From McKesson

AdaptHealth (NASDAQ:AHCO)
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3 Months : From Oct 2019 to Jan 2020

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By Chris Wack

 

AdaptHealth Corp. (AHCO) said Friday it is buying the Patient Care Solutions business from McKesson Corp. (MCK).

The medical equipment company said the transaction is expected to close in December, and its total investment, including restructuring costs until the business is fully integrated on AdaptHealth's platform in the latter half of 2020, is expected to be about $30 million.

AdaptHealth said for the trailing 12 months ended Oct. 31, PCS generated net revenues of $134 million. In connection with the acquisition, AdaptHealth will enter into a supply and distribution agreement with McKesson with respect to PCS's HME service lines.

PCS provides wound care supplies, ostomy supplies, urological supplies, incontinence supplies, diabetic care supplies, and breast pumps directly to patients across the U.S.

 

Write to Chris Wack at chris.wack@wsj.com

 

(END) Dow Jones Newswires

November 22, 2019 08:29 ET (13:29 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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