Global Finance News
20 Apr 2026, 22:42
McKesson Corporation announced that funds managed by Apollo Global Management will acquire a minority stake in its Medical-Surgical Solutions (MMS) business as part of its planned separation strategy.
Apollo will invest $1.25 billion in convertible preferred equity for an approximately 13% stake, valuing the MMS unit at around $13 billion. McKesson will retain majority ownership and operational control while preparing the business for a future initial public offering.
The transaction is positioned as a key step in McKesson’s broader plan to spin off MMS into a standalone company, with Apollo providing strategic and financial support to facilitate the transition and future growth.
The deal is subject to regulatory approvals and customary closing conditions.
Business Wire
Apollo will invest $1.25 billion in convertible preferred equity for an approximately 13% stake, valuing the MMS unit at around $13 billion. McKesson will retain majority ownership and operational control while preparing the business for a future initial public offering.
The transaction is positioned as a key step in McKesson’s broader plan to spin off MMS into a standalone company, with Apollo providing strategic and financial support to facilitate the transition and future growth.
The deal is subject to regulatory approvals and customary closing conditions.
Business Wire