December 20, 2021 11:00 UTC
Follows recently announced agreements to sell McKesson Europe operations in the UK, France, Italy, Ireland, Portugal, Belgium and Slovenia as part of a broader corporate strategy to exit completely the european region
IRVING, Texas – (COMMERCIAL THREAD) – McKesson Company (NYSE: MCK) today announced that it has reached an agreement to sell its Austrian operations to Quadrifolia Management GmbH (“Quadrifolia”). The transaction includes the sale of Herba Chemosan Apotheker-AG from McKesson Austria, as well as Sanova Pharma GesmbH. The transaction is expected to close in fiscal 2022, subject to customary closing conditions, including receipt of required regulatory approvals.
“Today’s transaction marks a further step in advancing McKesson’s intention to rationalize the portfolio and prioritize investments in areas where we have deep expertise and are central to our growth strategy at long term. We are making good progress in executing our exit strategy from Europe and continue to assess suitable exit alternatives for our business in Norway and Denmark, ”said Brian Tyler, CEO of McKesson.
Quadrifolia will proceed with a management buy-out which will see the current management of the Austrian company buy all of Herba Chemosan Apotheker-AG and Sanova Pharma GesmbH, supported by Invest AG. Invest AG has a solid track record of supporting businesses in Austria over 25 years and will provide new owners with additional strength to fuel innovation and competition.
Except for historical information, statements in this press release relating to McKesson’s proposed disposal of certain operations and assets in Europe constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and the section 21E of the Securities Exchange Act of 1934, which involve risks and uncertainties which could cause actual results to differ materially from those of these statements. It is not possible to identify all of these risks and uncertainties. The reader should not place undue reliance on forward-looking statements, which speak only as of the date on which they are first made. Except to the extent required by law, the company assumes no obligation to publicly update any 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 could be adversely affected by delays or other difficulties with disposals such as the transactions described in this press release; from time to time we record significant charges for the impairment of goodwill, intangible assets and other assets or investments; we could be adversely affected by events beyond our control, such as widespread public health problems, natural disasters, political events, and other catastrophic events.
About McKesson Corporation
McKesson Corporation is a global leader in healthcare supply chain management, retail pharmacy, community oncology and specialty care, and health information solutions. McKesson works in partnership with pharmaceutical manufacturers, suppliers, pharmacies, governments and other healthcare organizations to help deliver the right drugs, medical products and health services to the right patients at the right time, safely and inexpensively. United by our common ICARE principles, our employees work every day to innovate and provide opportunities that make our customers and partners more efficient, all for better patient health. McKesson was named “Most Admired Company“In the health wholesaler category by FORTUNE, a”Best place to workBy the Human Rights Campaign Foundation, and a senior military-friendly business by Military Friendly. For more information visit https://www.mckesson.com.
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