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McKesson to pay $2B for PSS World Medical | Wall Street Beat

Thu, 10/25/2012 - 4:40pm
Mass Device

McKesson agrees to pony up more than $2 billion for medical supplies provider PSS World Medical.

MassDevice.com Wall Street Beat

McKesson (NYSE:MCK) agreed to pay $29 per share for PSS World Medical (NSDQ:PSSI) and its medical supplies business in a deal worth $2.1 billion.

San Francisco-based McKesson said it expects the deal to "realize annual pre-tax synergies in excess of $100 million," according to a press release.

"The combination of McKesson's Medical Surgical business and PSS World Medical is an exciting next step in McKesson's commitment to improve business health and clinical performance across healthcare," chairman &CEO John H. Hammergren said in prepared remarks. "The unified organization will bring extensive distribution capabilities, deep product and technology expertise and a broad portfolio of business services to an expanding industry, helping our customers improve efficiency and productivity, and deliver better care." 

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