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SAN FRANCISCO — Francisco Partners, a technology-focused private equity firm, earlier this week signed a definitive agreement to acquire McKesson Automation, a unit of McKesson Corp. that offers integrated pharmacy automation solutions for hospitals and health systems. McKesson Corp. previously announced its intent to divest this division, which will operate under a new name after the transaction closes.
The transaction is expected to close this quarter and is subject to customary closing conditions.
“McKesson Automation is highly regarded in the healthcare industry for its system-wide approach to and deep understanding of the medication delivery process,” said Chris Adams, a principal at Francisco Partners. “We are excited to work closely with the existing leadership team to expand the automation business as a standalone company. We will maintain a close working relationship with McKesson Corp. to ensure that the companies’ collective solutions for hospitals and healthcare providers are complementary and effective.”
“Hospitals today face tremendous challenges — from intensifying payment and cost pressures to evolving regulatory standards, changing demographics and quality of care measures,” said Kraig McEwen, president of McKesson Automation. “At McKesson Automation, we are developing technology solutions that help hospitals and health systems effectively manage these changes while improving patient care and outcomes. As a standalone company and with the financial and operational resources that Francisco Partners offers, we will have the ability to further our commitment to continuously advance medication delivery.”
Located in Pittsburgh, McKesson Automation helps hospitals and health systems streamline the delivery of medications — from the distribution source to the patient — shifting focus from manual tasks to patient care activities that impact outcomes and reduce costs. The business offers a range of products addressing every stage of medication delivery within a hospital, including pharmacy, nursing and surgical services.