The Oncology Institute Announces Expanded Strategic Agreement with McKesson for Distribution of Pharmaceuticals
June 27 2022 - 8:00AM
The Oncology Institute, Inc. (NASDAQ: TOI) (“TOI” or the
“Company”), one of the largest value-based oncology groups in the
United States, announced today the signing of an expanded
partnership agreement with McKesson Corporation (“McKesson”) for
drug distribution and clinical technology.
The multi-year agreement is intended to streamline TOI’s
pharmaceutical distribution logistics and provide operational and
financial alignment to continue, and execute upon, the Company’s
expansion strategy.
“Having the right distribution partner is paramount for TOI’s
growth,” shared Brad Hively, TOI’s Chief Executive Officer. “We are
very pleased to further strengthen our partnership with McKesson
and feel they are best positioned to support TOI ’s growth and to
enhance our ability to deliver high-value oncology care to our
patients.”
TOI began providing in-office access to infused
therapies in 2007 and launched its physician dispensary in 2010.
TOI currently performs 57,000 infusions and prescribes more than
8,000 injectable and oral chemotherapeutics annually.
About TOIFounded in 2007, The
Oncology Institute of Hope and Innovation (TOI) is advancing
oncology by delivering highly specialized, value-based cancer care
in the community setting. TOI offers cutting-edge, evidence-based
cancer care to a population of more than 1.5 million patients
including clinical trials, stem cell transplants, transfusions, and
other care delivery models traditionally associated with the most
advanced care delivery organizations. With 80+ employed clinicians
and more than 600 teammates in 50+ clinic locations and growing,
TOI is changing oncology for the better.
Forward-Looking StatementsThis press release
includes certain statements that are not historical facts but are
forward-looking statements for purposes of the safe harbor
provisions under the United States Private Securities Litigation
Reform Act of 1995. Forward-looking statements generally are
accompanied by words such as “believe,” “may,” “will,” “estimate,”
“continue,” “anticipate,” “intend,” “expect,” “should,” “would,”
“plan,” “predict,” “potential,” “seem,” “seek,” “future,”
“outlook,” and similar expressions that predict or indicate future
events or trends or that are not statements of historical matters.
These statements are based on various assumptions and on the
current expectations of TOI and are not predictions of actual
performance. These forward-looking statements are provided for
illustrative purposes only and are not intended to serve as, and
must not be relied on by any investor as, a guarantee, an
assurance, a prediction or a definitive statement of fact or
probability. Actual events and circumstances are difficult or
impossible to predict and will differ from assumptions. Many actual
events and circumstances are beyond the control of TOI. These
forward-looking statements are subject to a number of risks and
uncertainties, including the outcome of judicial and administrative
proceedings to which TOI may become a party or governmental
investigations to which TOI may become subject that could interrupt
or limit TOI’s operations, result in adverse judgments, settlements
or fines and create negative publicity; changes in TOI’s clients’
preferences, prospects and the competitive conditions prevailing in
the healthcare sector; the risk that any required regulatory
approvals could adversely affect the company; failure to continue
to meet stock exchange listing standards; the impact of COVID-19 on
the company’s business; those factors discussed in the documents of
TOI filed, or to be filed, with the U.S. Securities and Exchange
Commission. If the risks materialize or assumptions prove
incorrect, actual results could differ materially from the results
implied by these forward-looking statements. There may be
additional risks that TOI presently does not know or that TOI
currently believes are immaterial that could also cause actual
results to differ from those contained in the forward-looking
statements. In addition, forward-looking statements reflect TOI’s
expectations, plans or forecasts of future events and views as of
the date of this press release. TOI anticipates that subsequent
events and developments will cause TOI’s assessments to change. TOI
does not undertake any obligation to update any of these
forward-looking statements. These forward-looking statements should
not be relied upon as representing TOI’s assessments as of any date
subsequent to the date of this press release. Accordingly, undue
reliance should not be placed upon the forward-looking
statements.
Contacts
MediaThe Oncology InstituteJulie
Korinkejuliekorinke@theoncologyinstitute.com(562) 735-3226 x
88806
InvestorsSolebury TroutMaria
Lycourismlycouris@soleburytrout.com
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