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CD&R, McKesson acquiring infusion therapy provider Option Care Health for $5.8B

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CD&R, McKesson acquiring infusion therapy provider Option Care Health for $5.8B

Option Care Health, a provider of infusion therapy services, is being acquired by private equity firm CD&R and healthcare conglomerate McKesson in a deal valued at $5.8 billion, the companies announced Tuesday morning.

The purchase will take Option private at a per-share offer price of $32.05, a 37% premium over the company’s closing price. Its stock had begun trending higher after close when early reports of the definitive agreement began to swirl, and as of Tuesday morning, it is trading at about $31 per share.

The deal is expected to close in the first half of 2027, subject to customary closing conditions like regulatory approvals and shareholder go-ahead. It would leave CD&R with a 51% stake in the company and McKesson a roughly 49% interest, for which it plans to invest about $1.4 billion. The agreement also outlines a framework for McKesson to acquire CD&R’s interest sometime in the future, according to the announcement.

“For more than 45 years, Option Care Health has helped transform the way infusion therapy is delivered, led by our team members’ unwavering commitment to providing extraordinary care to patients,” Option CEO John Rademacher said in the announcement. “We will continue to enhance our platform and deepen our partnerships with hospitals and health systems, physicians, payers and biopharma manufacturers.”

Option says it is the country’s largest independent at-home and alternate site infusion services provider. It operates across all 50 states, cares for more than 308,000 patients per year and employs 8,000 people, 5,000 of whom are clinicians.


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