McKesson plans ‘full exit’ in Europe
By HME News Staff
Updated 10:52 AM CDT, Mon July 12, 2021
IRVING, Texas – McKesson has entered into an agreement to sell its European businesses in France, Italy, Ireland, Portugal, Belgium and Slovenia to the PHOENIX group.
McKesson’s remaining European businesses in the U.K., Norway, Austria and Denmark are not part of the transaction, but the company says it is “exploring strategic alternatives” for those businesses, as it shifts the focus of future investments outside of Europe.
“This transaction marks an important step in advancing McKesson’s commitment to streamline the business and prioritize investments in areas where we have deep expertise and are central to our long-term growth strategy,” said Brian Tyler, CEO. “We will continue to operate our remaining businesses in the U.K., Norway, Austria and Denmark, while also exploring a strategic path forward to full exit the European region.”
The transaction also includes McKesson’s German-based AG headquarters in Stuttgart; Recucare GmbH, its German wound care business; its shared services center in Lithuania; and its 45% ownership stake in Brocacef, a joint venture in the Netherlands. McKesson will retain, however, its minority stake in its German join venture with Walgreens Boots Alliance.
The transaction is expected to close in 2022.
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