Healthcare and pharmaceutical distributor McKesson Corporation is set to acquire a controlling interest in Community Oncology Revitalization Enterprise Ventures, which does business as Core Ventures.

Announcing a purchase agreement on Aug. 26, McKesson said it will buy approximately 70% of Core Ventures for roughly $2.49 billion in cash.

Core Ventures — a business and administrative services organization — was established by Florida Cancer Specialists & Research Institute (FCS). The company will become part of McKesson’s Oncology platform and financial reports will be disclosed within the U.S. Pharmaceutical segment.

“By growing our Oncology platform, we will bring advanced treatments and improved care experiences to patients, while also reducing the overall cost of care,” McKesson CEO Brian Tyler said in a news release. “FCS and Core Ventures’ expertise and patient-first approach align with our commitment to accelerating clinical development, improving patient outcomes, and expanding access to quality cancer care in the community. We are also pleased to welcome Florida Cancer Specialists & Research Institute to The U.S. Oncology Network, reinforcing our dedication to empowering community-based providers to independently thrive in today’s rapidly evolving healthcare landscape.”

FCS — a practice with more than 250 physicians and 280 practice providers across Florida — will remain independently owned and will join McKesson’s U.S. Oncology Network (The Network). The company will have access to McKesson’s differentiated Oncology platform, including oncology care products and services.

“This is a historic moment for FCS and reflects the evolution of our practice and the forward-thinking of physician leadership, our board, and the entire organization at large,” FCS CEO Nathan H. Walcker said. “The U.S. Oncology Network and FCS share a mission and we both aim to strengthen patient-centered cancer care in the community to improve outcomes.

McKesson — No. 1 on MDM’s Top Distributor’s List for Pharmaceuticals and Healthcare — had a 2023 revenue of $276.7 billion.