Acquisition enhances McKesson’s capabilities as a national partner in retina and ophthalmology care

McKesson Corporation (NYSE: MCK) announced today that it signed a definitive agreement to acquire a controlling interest in PRISM Vision Holdings, LLC (PRISM Vision), a premier provider of general ophthalmology and retina management services, from Quad-C.

McKesson will purchase an 80% interest for approximately $850 million. PRISM Vision physicians will continue to retain a 20% interest in PRISM Vision.

“The acquisition of PRISM Vision will allow McKesson to build on our leadership in community practice and specialty solutions, while building a platform to serve the high-growth area of retina and ophthalmology,” said Brian Tyler, chief executive officer of McKesson. “PRISM Vision has a strong track record and value proposition for community-based physicians and a strong leadership team focused on delivering superior retinal care, enhancing the provider experience and delivering innovative clinical research capabilities. We intend to develop a leading platform for retinal care, delivering differentiated solutions and value across providers, biopharma partners and patients. McKesson has a long track record of leading practice management and clinical research outcomes with our differentiated Oncology platform, and we are excited to leverage this expertise to serve the high-growth area of retina and ophthalmology. This will allow us to expand our suite of solutions and continue to pursue our purpose of advancing health outcomes for all.”

This transaction will enable McKesson to deliver on several key strategic objectives:

• Develop a leading retinal and ophthalmology platform, expanding McKesson’s differentiated value proposition, clinical services and distribution offerings. PRISM affiliated practices include more than 180 providers, 91 office locations and seven ambulatory surgery centers
• Expand data and analytics capabilities
• Further innovative investment in clinical research opportunities
• Deepen biopharma partnerships

“McKesson’s long history of supporting specialty physicians by emphasizing clinical quality and enhancing patients’ access to care, is completely aligned with the core values and culture of PRISM Vision Group,” said Dr. Steven Madreperla, chief executive officer of PRISM Vision. “We are thrilled to be able to bring together PRISM’s exceptional provider base and service delivery platform with McKesson’s deep expertise in care delivery to further develop and expand our eye care network together.”

Following completion of the transaction, PRISM Vision will be consolidated within McKesson’s U.S. Pharmaceutical segment. The transaction is subject to customary closing conditions, including necessary regulatory clearances. Upon closing, PRISM Vision is anticipated to be approximately $0.20 to $0.30 accretive to McKesson’s Adjusted Earnings Per Diluted Share in the first 12 months, and $0.65 to $0.75 accretive by the end of the third year following the close of the transaction.

Cautionary Statements

Except for historical information, statements in this press release regarding McKesson’s proposed acquisition and related arrangements constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, that involve risks and uncertainties that could cause actual results to differ materially from those in those statements. It is not possible to identify all such risks and uncertainties. The reader should not place undue reliance on forward-looking statements, which speak only as of the date they are first made. Except to the extent required by law, the company undertakes no obligation to publicly update forward-looking statements. We encourage investors to read the important risk factors described in the company’s most recent Form 10-K filed with the Securities and Exchange Commission. These risk factors include, but are not limited to: we may be unable to obtain necessary regulatory approvals; we may not achieve expected outcomes from the transaction; we might be adversely impacted by delays or other difficulties, including related to the transactions described in this press release; we from time to time record significant charges from impairment to goodwill, intangibles and other assets or investments; we might be adversely impacted by events outside of our control, such as widespread public health issues, natural disasters, political events, economic events and other catastrophic events.

About McKesson

McKesson Corporation is a diversified healthcare services leader dedicated to advancing health outcomes for patients everywhere. Our teams partner with biopharma companies, care providers, pharmacies, manufacturers, governments, and others to deliver insights, products, and services to help make quality care more accessible and affordable. Learn more about how McKesson is impacting virtually every aspect of healthcare at McKesson.com and read Our Stories.

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